a16z Perennial Management L.P. Has $112,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

a16z Perennial Management L.P. decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 85.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,040 shares of the company's stock after selling 6,000 shares during the quarter. Cloudflare makes up about 0.0% of a16z Perennial Management L.P.'s investment portfolio, making the stock its 25th largest position. a16z Perennial Management L.P.'s holdings in Cloudflare were worth $112,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hartline Investment Corp lifted its holdings in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock worth $21,062,000 after buying an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the third quarter valued at about $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. National Pension Service raised its holdings in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC acquired a new position in Cloudflare during the 4th quarter valued at about $265,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent research reports. Truist Financial boosted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday, January 28th. Needham & Company LLC upped their target price on shares of Cloudflare from $110.00 to $160.00 and gave the company a "buy" rating in a research report on Monday, February 3rd. Piper Sandler raised their price target on Cloudflare from $92.00 to $153.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $135.28.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 581,354 shares of company stock valued at $64,625,120. 12.83% of the stock is owned by insiders.

Cloudflare Stock Up 2.0 %

NET traded up $3.45 during trading hours on Thursday, hitting $176.28. 2,794,080 shares of the company's stock were exchanged, compared to its average volume of 3,872,917. The stock has a market cap of $60.50 billion, a price-to-earnings ratio of -801.28 and a beta of 1.12. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $176.73. The stock's 50-day moving average is $122.83 and its two-hundred day moving average is $98.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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 predict that Cloudflare, Inc. will post -0.04 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.