Moore Capital Management LP Decreases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Moore Capital Management LP cut its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 100.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,244 shares of the company's stock after selling 34,994,756 shares during the period. Moore Capital Management LP's holdings in Cloudflare were worth $565,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in NET. Larson Financial Group LLC boosted its holdings in shares of 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 purchasing an additional 517 shares in the last quarter. CoreCap Advisors LLC boosted its stake 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 buying an additional 380 shares in the last quarter. Sava Infond d.o.o. bought a new position in Cloudflare during the fourth quarter valued at approximately $65,000. Whittier Trust Co. raised its stake 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 acquiring an additional 329 shares in the last quarter. Finally, Murphy & Mullick Capital Management Corp purchased a new position in shares of Cloudflare during the fourth quarter worth approximately $66,000. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on NET shares. Stifel Nicolaus increased their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a report on Friday, February 7th. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. The Goldman Sachs Group decreased their price target on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Finally, Royal Bank of Canada lowered their price objective on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $141.79.

Insider Activity

In related news, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. This represents a 5.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now directly owns 188,406 shares of the company's stock, valued at $21,257,848.98. This trade represents a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 597,260 shares of company stock worth $79,553,032. Insiders own 12.83% of the company's stock.

Cloudflare Stock Up 0.1%

Shares of NYSE NET traded up $0.19 during mid-day trading on Monday, hitting $157.38. 1,263,614 shares of the stock traded hands, compared to its average volume of 3,922,497. The company has a market cap of $54.31 billion, a price-to-earnings ratio of -715.36 and a beta of 1.78. The stock has a fifty day moving average price of $118.38 and a 200-day moving average price of $120.14. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business 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 firm posted $0.16 EPS. The business's quarterly revenue was up 26.5% on a year-over-year basis. Research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current 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.