Cloudflare, Inc. (NYSE:NET) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 77.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 6,255 shares of the company's stock after selling 21,491 shares during the quarter. SG Americas Securities LLC's holdings in Cloudflare were worth $521,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of NET. Sunbelt Securities Inc. acquired a new stake in Cloudflare during the first quarter valued at $29,000. Massmutual Trust Co. FSB ADV boosted its position in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock worth $45,000 after purchasing an additional 514 shares in the last quarter. JTC Employer Solutions Trustee Ltd purchased a new position in Cloudflare during the third quarter worth approximately $38,000. Harvest Fund Management Co. Ltd grew its holdings in Cloudflare by 2,422.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock valued at $56,000 after purchasing an additional 848 shares during the period. Finally, Fortis Group Advisors LLC purchased a new stake in shares of Cloudflare in the third quarter valued at approximately $64,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on NET shares. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $53.00 to $90.00 and gave the stock a "neutral" rating in a report on Friday, February 9th. Susquehanna raised their price target on shares of Cloudflare from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. Cantor Fitzgerald reiterated a "neutral" rating and set a $100.00 price objective (up from $70.00) on shares of Cloudflare in a research note on Friday, February 9th. Needham & Company LLC raised their target price on Cloudflare from $110.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, February 9th. Finally, Capital One Financial assumed coverage on Cloudflare in a research note on Wednesday, January 17th. They issued an "equal weight" rating and a $83.00 price target on the stock. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus target price of $87.50.

Cloudflare Trading Up 3.1 %

Shares of NET stock traded up $2.91 during trading hours on Friday, hitting $96.16. The company had a trading volume of 2,738,737 shares, compared to its average volume of 4,007,053. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The stock has a market capitalization of $32.47 billion, a PE ratio of -174.83 and a beta of 1.12. The company's fifty day moving average is $95.09 and its 200 day moving average is $79.56. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million for the quarter, compared to analysts' expectations of $352.70 million. Research analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, Director Carl Ledbetter sold 7,970 shares of the firm's stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $82.35, for a total value of $656,329.50. Following the completion of the transaction, the director now owns 1,569,530 shares of the company's stock, valued at approximately $129,250,795.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction that occurred on Wednesday, April 3rd. The shares were sold at an average price of $94.91, for a total transaction of $1,423,650.00. Following the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at $32,124,092.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Carl Ledbetter sold 7,970 shares of the firm's stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $82.35, for a total transaction of $656,329.50. Following the completion of the sale, the director now directly owns 1,569,530 shares in the company, valued at approximately $129,250,795.50. The disclosure for this sale can be found here. Insiders have sold 1,025,369 shares of company stock worth $97,520,567 over the last three months. Company insiders own 14.80% of the company's stock.

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.