Cloudflare, Inc. (NYSE:NET) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 9.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 27,565 shares of the company's stock after selling 2,827 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Cloudflare were worth $2,968,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Larson Financial Group LLC lifted its position in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after buying an additional 517 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares during the last quarter. Whittier Trust Co. raised its position in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the period. Sava Infond d.o.o. purchased a new stake in Cloudflare during the fourth quarter valued at about $65,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of Cloudflare during the fourth quarter valued at about $66,000. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 9,000 shares of the company's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the sale, the insider now owns 188,406 shares in the company, valued at $21,257,848.98. This represents a 4.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold 492,492 shares of company stock worth $63,757,685 in the last ninety days. 12.83% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Guggenheim increased their target price on shares of Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Friday. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Capital One Financial raised Cloudflare from a "hold" rating to a "strong-buy" rating in a research report on Thursday. The Goldman Sachs Group lowered their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Finally, Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and boosted their price objective for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Cloudflare has a consensus rating of "Hold" and a consensus price target of $142.57.

Cloudflare Stock Up 6.5 %

Shares of Cloudflare stock traded up $8.11 during trading on Friday, hitting $132.42. 9,043,595 shares of the stock were exchanged, compared to its average volume of 3,105,593. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm's 50-day moving average price is $116.02 and its 200 day moving average price is $117.55. The stock has a market cap of $45.69 billion, a price-to-earnings ratio of -601.91 and a beta of 1.78. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same quarter in the previous year, the firm earned $0.16 EPS. Cloudflare's revenue for the quarter was up 26.5% compared to the same quarter last year. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.