RPG Investment Advisory LLC Sells 24,852 Shares of Cloudflare, Inc. (NYSE:NET)

RPG Investment Advisory LLC cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,868 shares of the company's stock after selling 24,852 shares during the period. Cloudflare makes up approximately 2.2% of RPG Investment Advisory LLC's holdings, making the stock its 16th biggest position. RPG Investment Advisory LLC's holdings in Cloudflare were worth $13,810,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NET. Sunbelt Securities Inc. acquired a new stake in Cloudflare during the first quarter valued at approximately $29,000. JTC Employer Solutions Trustee Ltd acquired a new stake in shares of Cloudflare during the third quarter valued at approximately $38,000. Providence Capital Advisors LLC raised its holdings in shares of Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company's stock valued at $40,000 after acquiring an additional 2,426 shares during the period. Massmutual Trust Co. FSB ADV raised its holdings in shares of Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock valued at $45,000 after acquiring an additional 514 shares during the period. Finally, Harvest Fund Management Co. Ltd raised its holdings in shares of Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock valued at $56,000 after acquiring an additional 848 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NET shares. Morgan Stanley boosted their price target on shares of Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. KeyCorp boosted their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an "overweight" rating in a report on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a "buy" rating to a "hold" rating and set a $110.00 price target on the stock. in a report on Tuesday, February 13th. Sanford C. Bernstein started coverage on shares of Cloudflare in a report on Thursday, January 18th. They set a "market perform" rating and a $85.00 price target on the stock. Finally, Mizuho boosted their price target on shares of Cloudflare from $73.00 to $105.00 and gave the company a "neutral" rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $87.50.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 30,214 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $76.03, for a total value of $2,297,170.42. Following the completion of the sale, the director now directly owns 1,539,316 shares of the company's stock, valued at approximately $117,034,195.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company's stock, valued at approximately $17,202,674.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 30,214 shares of the firm's stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $76.03, for a total transaction of $2,297,170.42. Following the transaction, the director now directly owns 1,539,316 shares of the company's stock, valued at $117,034,195.48. The disclosure for this sale can be found here. Insiders sold a total of 1,113,937 shares of company stock valued at $106,926,869 in the last ninety days. Company insiders own 14.80% of the company's stock.

Cloudflare Stock Performance

Shares of NYSE NET traded down $2.35 during trading hours on Friday, hitting $93.73. 2,502,688 shares of the stock were exchanged, compared to its average volume of 3,871,363. 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 company's 50 day moving average is $96.46 and its 200 day moving average is $80.84. The firm has a market capitalization of $31.65 billion, a P/E ratio of -170.42 and a beta of 1.12. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. On average, research analysts expect that Cloudflare, Inc. will post -0.2 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.