Cloudflare, Inc. (NYSE:NET) Shares Sold by Price T Rowe Associates Inc. MD

Price T Rowe Associates Inc. MD decreased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 14.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 787,342 shares of the company's stock after selling 137,410 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.23% of Cloudflare worth $84,782,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc lifted its holdings in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after buying an additional 170 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the period. Whittier Trust Co. raised its holdings in Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in Cloudflare in the fourth quarter valued at $65,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Guggenheim lifted their price objective on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a report on Friday, February 7th. Stifel Nicolaus raised their price target on Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Finally, Morgan Stanley dropped their price objective on Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a report on Wednesday, April 16th. 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, the company has a consensus rating of "Hold" and an average target price of $134.84.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 509,973 shares of company stock valued at $66,133,783 over the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Price Performance

NYSE:NET traded up $1.65 on Friday, reaching $124.26. 2,382,165 shares of the company's stock traded hands, compared to its average volume of 3,175,993. 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 12 month low of $66.24 and a 12 month high of $177.37. The stock has a 50-day simple moving average of $118.18 and a 200-day simple moving average of $116.14. The firm has a market cap of $42.88 billion, a PE ratio of -564.82 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. Equities research analysts forecast 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.