Price T Rowe Associates Inc. MD Sells 137,410 Shares of Cloudflare, Inc. (NYSE:NET)

Price T Rowe Associates Inc. MD cut its stake in Cloudflare, Inc. (NYSE:NET) by 14.9% in the 4th quarter, Holdings Channel reports. 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’s holdings in Cloudflare were worth $84,782,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Hartline Investment Corp lifted its holdings in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after buying an additional 3,957 shares during the period. Birchcreek Wealth Management LLC bought a new stake in shares of Cloudflare during the fourth quarter valued at approximately $215,000. Strategic Blueprint LLC bought a new position in Cloudflare in the fourth quarter worth $265,000. Clarendon Private LLC purchased a new position in Cloudflare during the fourth quarter valued at $293,000. Finally, Savant Capital LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at $237,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. JMP Securities upped their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Morgan Stanley reduced their price objective on Cloudflare from $154.00 to $144.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Scotiabank increased their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Stifel Nicolaus boosted their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Susquehanna raised their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $134.84.

Cloudflare Trading Up 1.8 %

Shares of NET stock opened at $121.03 on Monday. The company has a market capitalization of $41.76 billion, a P/E ratio of -550.14 and a beta of 1.59. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business’s 50 day moving average is $120.78 and its two-hundred day moving average is $115.67. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last announced 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 net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, 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. Over the last ninety days, insiders sold 496,973 shares of company stock valued at $64,559,903. 12.83% of the stock is owned by 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.