Malaga Cove Capital LLC Decreases Holdings in Cloudflare, Inc. (NYSE:NET)

Malaga Cove Capital LLC reduced its position in Cloudflare, Inc. (NYSE:NET) by 11.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,082 shares of the company’s stock after selling 1,347 shares during the period. Malaga Cove Capital LLC’s holdings in Cloudflare were worth $839,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of NET. GAMMA Investing LLC bought a new position in Cloudflare in the fourth quarter worth approximately $39,000. Massmutual Trust Co. FSB ADV raised its stake in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares during the period. Livforsakringsbolaget Skandia Omsesidigt lifted its holdings in Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after purchasing an additional 296 shares in the last quarter. ORG Partners LLC bought a new position in Cloudflare in the 4th quarter worth approximately $55,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after buying an additional 848 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 7,962 shares of the stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $81.42, for a total transaction of $648,266.04. Following the transaction, the director now owns 1,446,957 shares of the company’s stock, valued at approximately $117,811,238.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Carl Ledbetter sold 7,962 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total transaction of $648,266.04. Following the transaction, the director now directly owns 1,446,957 shares of the company’s stock, valued at $117,811,238.94. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00. Following the completion of the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $23,789,829.12. The disclosure for this sale can be found here. Insiders sold a total of 1,029,347 shares of company stock valued at $100,594,226 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday. Robert W. Baird reduced their price objective on Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday. Sanford C. Bernstein started coverage on Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 target price for the company. Capital One Financial assumed coverage on shares of Cloudflare in a report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price for the company. Finally, UBS Group decreased their price target on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research note on Friday. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $90.17.

Cloudflare Trading Down 16.4 %

NET stock traded down $14.57 during trading on Friday, hitting $74.40. The company had a trading volume of 18,650,549 shares, compared to its average volume of 2,884,762. The firm has a market capitalization of $25.12 billion, a P/E ratio of -140.38 and a beta of 1.15. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The company has a 50 day simple moving average of $93.67 and a 200-day simple moving average of $83.60.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. As a group, research analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal 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.