Cloudflare, Inc. (NYSE:NET) Shares Sold by Natixis

Natixis lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 36.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,384 shares of the company's stock after selling 11,788 shares during the period. Natixis' holdings in Cloudflare were worth $2,195,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Groupama Asset Managment purchased a new position in Cloudflare during the fourth quarter worth approximately $269,200,000. Norges Bank acquired a new stake in Cloudflare in the 4th quarter valued at $249,544,000. American Century Companies Inc. increased its holdings in Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Invesco Ltd. raised its position in Cloudflare by 292.5% during the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock worth $116,178,000 after acquiring an additional 804,059 shares during the period. Finally, Pictet Asset Management Holding SA lifted its holdings in Cloudflare by 454.6% during the fourth quarter. Pictet Asset Management Holding SA now owns 879,088 shares of the company's stock valued at $94,660,000 after purchasing an additional 720,568 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,973 shares of company stock worth $64,559,903 in the last three months. 12.83% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on NET shares. Wells Fargo & Company upped their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Needham & Company LLC reduced their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, March 13th. Piper Sandler lowered their price target on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. JMP Securities increased their price objective on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. Finally, Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $134.84.

Cloudflare Trading Down 2.1 %

Shares of NET traded down $2.51 during trading on Monday, reaching $118.49. 617,756 shares of the company traded hands, compared to its average volume of 3,184,161. The stock has a 50-day simple moving average of $120.78 and a 200-day simple moving average of $115.67. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The stock has a market cap of $40.89 billion, a PE ratio of -537.87 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare Company 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.