Cloudflare, Inc. (NYSE:NET) Shares Sold by Prudential Financial Inc.

Prudential Financial Inc. cut its position in shares of Cloudflare, Inc. (NYSE:NET) by 13.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 8,563 shares of the company’s stock after selling 1,352 shares during the quarter. Prudential Financial Inc.’s holdings in Cloudflare were worth $922,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Quarry LP grew its holdings in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Larson Financial Group LLC lifted its holdings in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares during the last quarter. Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the last quarter. Finally, Whittier Trust Co. raised its holdings in shares of Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after purchasing an additional 329 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now owns 188,406 shares of the company’s stock, valued at $21,257,848.98. The trade was a 4.56 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 559,662 shares of company stock valued at $73,480,384 over the last 90 days. 12.83% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have issued reports on NET. UBS Group decreased their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group lifted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Guggenheim upped their target price on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Robert W. Baird reissued a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Finally, JMP Securities upped their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $135.64.

Cloudflare Stock Up 1.3 %

Cloudflare stock opened at $98.31 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm’s fifty day simple moving average is $135.79 and its 200-day simple moving average is $113.01. The company has a market capitalization of $33.93 billion, a P/E ratio of -446.88 and a beta of 1.59.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts forecast 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.