New York State Common Retirement Fund Has $21.18 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

New York State Common Retirement Fund decreased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 8.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 254,396 shares of the company's stock after selling 22,018 shares during the period. New York State Common Retirement Fund owned approximately 0.08% of Cloudflare worth $21,181,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company's stock valued at $45,000 after buying an additional 514 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company's stock valued at $50,000 after buying an additional 296 shares during the period. ORG Partners LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $55,000. Harvest Fund Management Co. Ltd boosted its stake in Cloudflare by 2,422.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company's stock worth $56,000 after purchasing an additional 848 shares during the period. Finally, Lindbrook Capital LLC boosted its stake in Cloudflare by 49.5% in the 4th quarter. Lindbrook Capital LLC now owns 948 shares of the company's stock worth $79,000 after purchasing an additional 314 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,015 shares of the stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total value of $892,937.40. Following the transaction, the director now directly owns 1,204,815 shares of the company's stock, valued at approximately $107,421,305.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Carl Ledbetter sold 10,015 shares of the firm's stock in a transaction that occurred on Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total transaction of $892,937.40. Following the transaction, the director now directly owns 1,204,815 shares of the company's stock, valued at $107,421,305.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,152,389.97. The disclosure for this sale can be found here. Insiders have sold a total of 1,046,356 shares of company stock valued at $101,906,480 in the last three months. 14.80% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on NET shares. Cantor Fitzgerald reaffirmed a "neutral" rating and issued a $100.00 target price on shares of Cloudflare in a research note on Wednesday, April 17th. Needham & Company LLC upped their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $53.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, February 9th. JMP Securities increased their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the stock a "market outperform" rating in a research note on Wednesday, January 31st. Finally, Truist Financial increased their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $87.08.

Cloudflare Stock Performance

Cloudflare stock traded up $1.25 during trading hours on Friday, hitting $88.01. The company had a trading volume of 1,763,933 shares, compared to its average volume of 2,346,044. The firm has a market cap of $29.72 billion, a PE ratio of -160.02 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, Inc. has a one year low of $39.90 and a one year high of $116.00. The firm has a 50-day moving average of $94.89 and a 200 day moving average of $82.82.

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

About Cloudflare

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.