Nikko Asset Management Americas Inc. Reduces Holdings in Cloudflare, Inc. (NYSE:NET)

Nikko Asset Management Americas Inc. decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 13.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 808,202 shares of the company’s stock after selling 122,503 shares during the period. Nikko Asset Management Americas Inc. owned 0.24% of Cloudflare worth $87,027,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Cloudflare during the third quarter valued at $25,588,000. Hartline Investment Corp raised its holdings in shares of Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after acquiring an additional 3,957 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in 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 in the last quarter. Birchcreek Wealth Management LLC bought a new position in Cloudflare in the fourth quarter worth about $215,000. Finally, Strategic Blueprint LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at about $265,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 1.9 %

NYSE:NET opened at $115.83 on Monday. The stock’s fifty day moving average price is $136.48 and its two-hundred day moving average price is $108.95. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $39.97 billion, a price-to-earnings ratio of -526.50 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NET shares. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. DZ Bank lowered Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Needham & Company LLC reduced their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday. Finally, UBS Group cut their target price on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $130.04.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $59,961,421.52. This trade represents a 11.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 571,766 shares of company stock worth $73,804,307. Corporate insiders own 12.83% of the company’s stock.

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.