Cloudflare, Inc. (NYSE:NET) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 1.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 22,605 shares of the company’s stock after selling 224 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Cloudflare were worth $2,434,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP bought a new position in Cloudflare during the 3rd quarter valued at $38,000. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the period. Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares in the last quarter. GAMMA Investing LLC grew its holdings in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. Finally, Quest Partners LLC bought a new stake in Cloudflare in the third quarter worth about $54,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on NET. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research report on Tuesday, February 11th. Wells Fargo & Company raised their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Piper Sandler upped their price target on Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial increased their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Trading Up 3.4 %

Cloudflare stock opened at $145.48 on Friday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $49.93 billion, a P/E ratio of -661.26 and a beta of 1.12. The company’s fifty day simple moving average is $132.65 and its 200-day simple moving average is $104.96.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) 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, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare 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 completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 638,046 shares of company stock worth $81,243,344. Insiders own 12.83% of the company’s stock.

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.