Virtu Financial LLC Sells 1,764 Shares of Cloudflare, Inc. (NYSE:NET)

Virtu Financial LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 11.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,912 shares of the company’s stock after selling 1,764 shares during the quarter. Virtu Financial LLC’s holdings in Cloudflare were worth $1,498,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in NET. Empowered Funds LLC increased its holdings in shares of Cloudflare by 7.7% in the third quarter. Empowered Funds LLC now owns 4,378 shares of the company’s stock worth $354,000 after purchasing an additional 313 shares during the period. Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter worth $54,000. Pathstone Holdings LLC increased its holdings in shares of Cloudflare by 5.2% in the third quarter. Pathstone Holdings LLC now owns 24,101 shares of the company’s stock worth $1,950,000 after purchasing an additional 1,200 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Cloudflare in the third quarter worth $591,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were 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 $48,501,613.16. This represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 566,766 shares of company stock valued at $73,779,200 over the last three months. Corporate insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on NET. Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler cut their target price on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Morgan Stanley initiated coverage on shares of Cloudflare in a research report on Tuesday, March 18th. They issued an “overweight” rating for the company. Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $131.64.

Cloudflare Price Performance

NET stock opened at $118.95 on Friday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. The firm has a 50-day moving average of $136.73 and a 200 day moving average of $110.01. 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) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current 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.