UniSuper Management Pty Ltd Cuts Stock Holdings in Cloudflare, Inc. (NYSE:NET)

UniSuper Management Pty Ltd lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 17.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,800 shares of the company’s stock after selling 1,200 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Cloudflare were worth $625,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NET. Stratos Wealth Partners LTD. boosted its stake in shares of Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after acquiring an additional 94 shares during the period. Baxter Bros Inc. boosted its position in shares of Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock worth $296,000 after purchasing an additional 100 shares in the last quarter. Chicago Partners Investment Group LLC increased its holdings in shares of Cloudflare by 4.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in shares of Cloudflare by 0.5% in the fourth quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock valued at $2,269,000 after purchasing an additional 106 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Cantor Fitzgerald raised their price objective on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Robert W. Baird restated a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Finally, Morgan Stanley started coverage on shares of Cloudflare in a research report on Tuesday, March 18th. They issued an “overweight” rating on the stock. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.64.

Cloudflare Price Performance

Cloudflare stock opened at $112.77 on Tuesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $38.91 billion, a price-to-earnings ratio of -512.57 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm has a 50 day moving average price of $137.39 and a 200 day moving average price of $112.03.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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 return on equity of 5.52% and a negative net margin of 4.72%. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 618,046 shares of company stock worth $80,142,792 over the last three months. 12.83% of the stock is owned by insiders.

Cloudflare Company 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.