Cloudflare, Inc. (NYSE:NET) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 36.1% during the 4th quarter, Holdings Channel reports. The firm owned 5,442 shares of the company’s stock after selling 3,072 shares during the period. Motley Fool Asset Management LLC’s holdings in Cloudflare were worth $453,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. GAMMA Investing LLC acquired a new position in shares of Cloudflare during the fourth quarter worth $39,000. Massmutual Trust Co. FSB ADV lifted its holdings in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after buying an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after acquiring an additional 296 shares in the last quarter. ORG Partners LLC purchased a new position in shares of Cloudflare in the 4th quarter valued at about $55,000. Finally, Harvest Fund Management Co. Ltd raised its position in shares of Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after acquiring an additional 848 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 1.4 %

Shares of NET opened at $87.98 on Friday. The firm’s 50-day moving average is $94.89 and its two-hundred day moving average is $82.70. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $29.71 billion, a P/E ratio of -159.96 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have commented on NET shares. Mizuho dropped their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research note on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. Royal Bank of Canada upped their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. JMP Securities lifted their target price on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.08.

Insider Transactions at Cloudflare

In related news, Director Carl Ledbetter sold 10,015 shares of the 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 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 filing with the SEC, which is available through this hyperlink. In other news, Director Carl Ledbetter sold 10,015 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total value of $892,937.40. Following the completion of the transaction, the director now directly owns 1,204,815 shares of the company’s stock, valued at $107,421,305.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the sale, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. Insiders sold 1,046,356 shares of company stock valued at $101,906,480 in the last 90 days. 14.80% of the stock is currently owned by insiders.

About Cloudflare

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.