Tidal Investments LLC Decreases Stake in Cloudflare, Inc. (NYSE:NET)

Tidal Investments LLC lowered its position in Cloudflare, Inc. (NYSE:NET) by 27.8% in the 4th quarter, HoldingsChannel reports. The fund owned 16,768 shares of the company’s stock after selling 6,470 shares during the period. Tidal Investments LLC’s holdings in Cloudflare were worth $1,806,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC grew its holdings in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares in the last quarter. CoreCap Advisors LLC increased its position in shares of Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock valued at $60,000 after buying an additional 380 shares during the period. Whittier Trust Co. increased its position in shares of Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after buying an additional 329 shares during the period. Sava Infond d.o.o. bought a new stake in shares of Cloudflare during the fourth quarter valued at about $65,000. Finally, Murphy & Mullick Capital Management Corp bought a new stake in shares of Cloudflare during the fourth quarter valued at about $66,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 0.1%

Shares of NET opened at $158.45 on Friday. The firm has a market cap of $54.68 billion, a P/E ratio of -720.20 and a beta of 1.78. The stock has a 50 day simple moving average of $122.55 and a two-hundred day simple moving average of $122.11. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million during the quarter, compared to analysts’ expectations of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 EPS. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 2,311 shares of the business’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company’s stock, valued at $44,545,250.75. The trade was a 0.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 564,297 shares of company stock worth $73,906,935. 12.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NET. Cantor Fitzgerald upped their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Guggenheim upped their price target on Cloudflare from $68.00 to $70.00 and gave the company a “sell” rating in a research report on Friday, May 9th. Wells Fargo & Company upped their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Truist Financial upped their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, JMP Securities boosted their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $141.79.

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.