Cloudflare, Inc. (NYSE:NET) Shares Sold by UniSuper Management Pty Ltd

UniSuper Management Pty Ltd trimmed its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 17.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,800 shares of the company’s stock after selling 1,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Cloudflare were worth $625,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NET. Cerity Partners LLC raised its position in Cloudflare by 306.4% in the third quarter. Cerity Partners LLC now owns 18,416 shares of the company’s stock valued at $1,490,000 after purchasing an additional 13,885 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Cloudflare by 5.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,308 shares of the company’s stock valued at $1,157,000 after buying an additional 734 shares during the period. CreativeOne Wealth LLC lifted its stake in Cloudflare by 13.3% during the 3rd quarter. CreativeOne Wealth LLC now owns 6,924 shares of the company’s stock worth $560,000 after acquiring an additional 811 shares in the last quarter. Captrust Financial Advisors boosted its holdings in Cloudflare by 596.2% during the 3rd quarter. Captrust Financial Advisors now owns 39,827 shares of the company’s stock valued at $3,222,000 after acquiring an additional 34,106 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Cloudflare in the 3rd quarter valued at about $6,548,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Down 1.9 %

Shares of NYSE NET opened at $112.77 on Tuesday. The business has a 50-day moving average price of $137.39 and a 200 day moving average price of $112.03. The stock has a market cap of $38.91 billion, a PE ratio of -512.57 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate 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 research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on NET shares. Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. UBS Group decreased their price target 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. JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Stifel Nicolaus lifted their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Needham & Company LLC cut their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $135.64.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 618,046 shares of company stock valued at $80,142,792. 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.