Schonfeld Strategic Advisors LLC Sells 344,142 Shares of Cloudflare, Inc. (NYSE:NET)

Schonfeld Strategic Advisors LLC lowered its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 96.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,821 shares of the company's stock after selling 344,142 shares during the period. Schonfeld Strategic Advisors LLC's holdings in Cloudflare were worth $1,273,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the business. Lido Advisors LLC raised its stake in Cloudflare by 55.3% in the 4th quarter. Lido Advisors LLC now owns 3,149 shares of the company's stock valued at $339,000 after acquiring an additional 1,121 shares during the period. Northern Trust Corp raised its position in shares of Cloudflare by 13.5% in the fourth quarter. Northern Trust Corp now owns 1,849,143 shares of the company's stock valued at $199,116,000 after purchasing an additional 219,764 shares during the period. NZS Capital LLC boosted its holdings in shares of Cloudflare by 6.5% during the 4th quarter. NZS Capital LLC now owns 277,652 shares of the company's stock worth $29,898,000 after buying an additional 17,015 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its stake in Cloudflare by 17.5% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 4,492 shares of the company's stock valued at $484,000 after buying an additional 670 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new position in Cloudflare in the 4th quarter valued at about $8,574,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $121.86 on Thursday. The company's 50 day moving average price is $116.55 and its two-hundred day moving average price is $117.02. The firm has a market capitalization of $42.05 billion, a P/E ratio of -553.90 and a beta of 1.78. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on NET. Guggenheim upped their target price on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Susquehanna increased their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Royal Bank of Canada reduced their target price on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Finally, Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $137.70.

Insider Activity

In other news, insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the transaction, the insider now owns 188,406 shares in the company, valued at approximately $21,257,848.98. The trade was a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company's stock, valued at $35,270,941.48. The trade was a 3.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 492,492 shares of company stock valued at $63,757,685. 12.83% of the stock is currently owned by corporate insiders.

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.

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