Cloudflare, Inc. (NYSE:NET) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 5.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 175,663 shares of the company’s stock after selling 10,000 shares during the period. New York State Common Retirement Fund owned approximately 0.05% of Cloudflare worth $18,915,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning increased its stake in Cloudflare by 17.8% during the third quarter. Creative Planning now owns 31,519 shares of the company’s stock worth $2,550,000 after acquiring an additional 4,756 shares during the last quarter. Blue Trust Inc. increased its position in shares of Cloudflare by 224.5% during the 3rd quarter. Blue Trust Inc. now owns 2,447 shares of the company’s stock worth $203,000 after purchasing an additional 1,693 shares during the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Cloudflare by 12.1% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company’s stock worth $226,000 after purchasing an additional 303 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth about $147,160,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other news, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. The trade was a 12.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 594,036 shares of company stock worth $72,407,434. Corporate insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Guggenheim lifted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a research note on Tuesday, February 18th. Finally, Mizuho lifted their price objective on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Trading Down 2.9 %

NYSE:NET opened at $151.83 on Friday. The stock has a 50-day simple moving average of $130.11 and a 200-day simple moving average of $103.27. The stock has a market cap of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.