Westwood Holdings Group Inc. Decreases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Westwood Holdings Group Inc. decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 28.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 11,396 shares of the company's stock after selling 4,428 shares during the period. Westwood Holdings Group Inc.'s holdings in Cloudflare were worth $1,227,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NET. Larson Financial Group LLC raised its stake in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares in the last quarter. CoreCap Advisors LLC grew its holdings in Cloudflare by 218.4% in the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company's stock worth $60,000 after purchasing an additional 380 shares during the last quarter. Sava Infond d.o.o. acquired a new position in shares of Cloudflare during the fourth quarter worth $65,000. Whittier Trust Co. increased its position in shares of Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new stake in shares of Cloudflare during the 4th quarter valued at $66,000. Institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several analysts have weighed in on NET shares. Oppenheimer boosted their target price on shares of Cloudflare from $150.00 to $165.00 and gave the stock an "outperform" rating in a research report on Friday, May 9th. UBS Group lifted their target price on shares of Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and upped their price target for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. Cantor Fitzgerald increased their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, Jefferies Financial Group dropped their price target on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Three analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Cloudflare currently has an average rating of "Hold" and an average target price of $141.79.

Cloudflare Trading Up 0.1%

NET traded up $0.24 on Monday, hitting $158.45. The company had a trading volume of 1,675,613 shares, compared to its average volume of 3,160,384. The company's fifty day moving average price is $122.55 and its 200 day moving average price is $122.50. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $54.68 billion, a P/E ratio of -720.20 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Cloudflare's revenue was up 26.5% on a year-over-year basis. During the same period last year, the firm posted $0.16 earnings per share. As a group, equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the transaction, the chief executive officer now owns 413,413 shares in the company, valued at approximately $59,279,290.07. The trade was a 11.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Michelle Zatlyn sold 35,098 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the sale, the insider now directly owns 6,390 shares in the company, valued at approximately $1,002,143.70. The trade was a 84.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 564,297 shares of company stock valued at $73,906,935. Corporate insiders own 12.83% of the company's stock.

Cloudflare Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.