Cloudflare, Inc. (NYSE:NET) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. cut its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 17.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 286,512 shares of the company's stock after selling 58,497 shares during the period. Vontobel Holding Ltd. owned about 0.09% of Cloudflare worth $23,855,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Deutsche Bank AG grew its holdings in Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company's stock valued at $85,243,000 after purchasing an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. bought a new position in Cloudflare during the third quarter valued at $569,000. International Assets Investment Management LLC bought a new position in Cloudflare during the fourth quarter valued at $11,639,000. Blueshift Asset Management LLC grew its holdings in Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company's stock valued at $1,634,000 after purchasing an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier grew its holdings in Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company's stock valued at $33,937,000 after purchasing an additional 17,600 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Carl Ledbetter sold 44,154 shares of Cloudflare stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $94.37, for a total transaction of $4,166,812.98. Following the completion of the transaction, the director now directly owns 1,222,859 shares in the company, valued at $115,401,203.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction that occurred 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 transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Carl Ledbetter sold 44,154 shares of the business's stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $94.37, for a total transaction of $4,166,812.98. Following the completion of the transaction, the director now owns 1,222,859 shares of the company's stock, valued at $115,401,203.83. The disclosure for this sale can be found here. Insiders have sold 1,113,937 shares of company stock valued at $106,926,869 over the last ninety days. 14.80% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NET. Wells Fargo & Company increased their price objective on Cloudflare from $95.00 to $125.00 and gave the company an "overweight" rating in a report on Friday, February 9th. Morgan Stanley increased their price objective on Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Needham & Company LLC raised their price target on Cloudflare from $110.00 to $135.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Royal Bank of Canada raised their price target on Cloudflare from $95.00 to $108.00 and gave the stock an "outperform" rating in a report on Friday, February 9th. Finally, Truist Financial raised their price target on Cloudflare from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Friday, February 9th. Four investment 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 company has a consensus rating of "Hold" and a consensus price target of $87.08.

Cloudflare Price Performance

NYSE NET traded down $3.37 during trading hours on Monday, reaching $90.39. 2,832,469 shares of the stock traded hands, compared to its average volume of 3,856,034. The stock has a 50 day simple moving average of $96.65 and a two-hundred day simple moving average of $81.35. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a market cap of $30.52 billion, a price-to-earnings ratio of -164.35 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating 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 firm had revenue of $362.47 million for the quarter, compared to analysts' expectations of $352.70 million. On average, analysts predict that Cloudflare, Inc. will post -0.2 EPS 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.