Motley Fool Asset Management LLC Sells 3,072 Shares of Cloudflare, Inc. (NYSE:NET)

Motley Fool Asset Management LLC reduced its stake in shares of Cloudflare, Inc. (NYSE:NET) by 36.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,442 shares of the company’s stock after selling 3,072 shares during the quarter. Motley Fool Asset Management LLC’s holdings in Cloudflare were worth $453,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Cloudflare by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after purchasing an additional 395,363 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Cloudflare by 0.9% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company’s stock worth $109,451,000 after purchasing an additional 14,984 shares during the period. Northern Trust Corp raised its stake in Cloudflare by 3.1% in the third quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock valued at $109,289,000 after buying an additional 51,345 shares during the period. Deutsche Bank AG lifted its position in shares of Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Cloudflare by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock worth $62,000,000 after acquiring an additional 11,342 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Activity at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,015 shares of the company’s stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of $89.16, for a total value of $892,937.40. Following the completion of the sale, the director now directly owns 1,204,815 shares of the company’s stock, valued at approximately $107,421,305.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carl Ledbetter sold 10,015 shares of Cloudflare stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total transaction of $892,937.40. Following the sale, the director now directly owns 1,204,815 shares in the company, valued at $107,421,305.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michelle Zatlyn sold 277,376 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the transaction, the chief operating officer now directly owns 38,545 shares in the company, valued at approximately $3,899,597.65. The disclosure for this sale can be found here. Insiders have sold 1,046,356 shares of company stock valued at $101,906,480 over the last ninety days. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $87.98 on Friday. The stock has a market cap of $29.71 billion, a P/E ratio of -159.96 and a beta of 1.12. The business’s fifty day moving average is $94.89 and its 200 day moving average is $82.70. 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 12-month low of $39.90 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a report on Wednesday, April 17th. Royal Bank of Canada increased their price target on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. JMP Securities boosted their price objective on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a report on Tuesday, February 13th. Finally, Truist Financial raised their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $87.08.

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.