Blueshift Asset Management LLC Reduces Position in Cloudflare, Inc. (NYSE:NET)

Blueshift Asset Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 81.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,285 shares of the company’s stock after selling 32,388 shares during the quarter. Blueshift Asset Management LLC’s holdings in Cloudflare were worth $784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of NET. OneDigital Investment Advisors LLC boosted its stake in shares of Cloudflare by 3.5% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock worth $327,000 after acquiring an additional 137 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Cloudflare by 5.4% during the 3rd quarter. CIBC Asset Management Inc now owns 10,629 shares of the company’s stock worth $860,000 after acquiring an additional 545 shares during the last quarter. Empowered Funds LLC boosted its stake in shares of Cloudflare by 7.7% during the 3rd quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after acquiring an additional 313 shares during the last quarter. Swiss National Bank boosted its stake in shares of Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Quest Partners LLC purchased a new position in shares of Cloudflare during the 3rd quarter worth $54,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total transaction of $6,145,690.88. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $48,501,613.16. This represents a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 609,150 shares of company stock valued at $78,440,970. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $117.48 on Thursday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The stock has a market capitalization of $40.54 billion, a P/E ratio of -534.02 and a beta of 1.27. The firm has a fifty day simple moving average of $136.54 and a two-hundred day simple moving average of $109.42. 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 (NYSE:NET) last issued its quarterly earnings data 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 return on equity of 5.52% and a negative net margin of 4.72%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent analyst reports. Mizuho decreased their price objective on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. JMP Securities raised their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. UBS Group decreased their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Finally, Truist Financial raised their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $130.04.

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.