Vanguard Group Inc. Sells 68,873 Shares of Cloudflare, Inc. (NYSE:NET)

Vanguard Group Inc. trimmed its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.2% during the fourth quarter, HoldingsChannel reports. The firm owned 30,298,059 shares of the company’s stock after selling 68,873 shares during the quarter. Vanguard Group Inc. owned about 0.09% of Cloudflare worth $3,262,495,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC bought a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc boosted its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Up 2.6 %

NET stock opened at $127.16 on Wednesday. The stock has a market cap of $43.88 billion, a P/E ratio of -578.00 and a beta of 1.27. The stock’s fifty day simple moving average is $137.01 and its two-hundred day simple moving average is $110.56. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly 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%. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 566,766 shares of company stock valued at $73,779,200. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NET. JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. UBS Group lowered their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus increased their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Susquehanna increased their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Guggenheim raised their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $135.64.

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.