Graham Capital Management L.P. Sells 42,947 Shares of Cloudflare, Inc. (NYSE:NET)

Graham Capital Management L.P. decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 88.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,419 shares of the company's stock after selling 42,947 shares during the period. Graham Capital Management L.P.'s holdings in Cloudflare were worth $584,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Brookstone Capital Management purchased a new stake in shares of Cloudflare in the fourth quarter worth approximately $304,000. Assenagon Asset Management S.A. lifted its position in Cloudflare by 38.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company's stock worth $515,000 after buying an additional 1,326 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in shares of Cloudflare by 28.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company's stock valued at $679,000 after buying an additional 1,390 shares during the period. Carnegie Investment Counsel grew its holdings in shares of Cloudflare by 7.3% during the 4th quarter. Carnegie Investment Counsel now owns 181,093 shares of the company's stock valued at $19,500,000 after acquiring an additional 12,290 shares in the last quarter. Finally, Premier Path Wealth Partners LLC acquired a new position in shares of Cloudflare in the fourth quarter worth $217,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target on the stock in a research report on Monday, May 12th. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a report on Wednesday, April 16th. 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. Finally, JMP Securities upped their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $141.79.

Cloudflare Trading Up 0.2%

Shares of NET stock traded up $0.35 during trading hours on Monday, reaching $157.54. The company had a trading volume of 3,504,240 shares, compared to its average volume of 3,149,546. The company has a 50 day moving average of $118.38 and a 200 day moving average of $120.14. The firm has a market cap of $54.36 billion, a price-to-earnings ratio of -716.09 and a beta of 1.78. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its 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). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. During the same quarter last year, the business posted $0.16 EPS. Cloudflare's quarterly revenue was up 26.5% on a year-over-year basis. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In related news, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $152.68, for a total value of $7,997,989.12. Following the transaction, the chief executive officer now owns 10,426 shares of the company's stock, valued at approximately $1,591,841.68. The trade was a 83.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 597,260 shares of company stock worth $79,553,032. 12.83% of the stock is currently owned by company insiders.

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.