Alberta Investment Management Corp Reduces Holdings in Cloudflare, Inc. (NYSE:NET)

Alberta Investment Management Corp cut its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 25.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 153,405 shares of the company's stock after selling 51,500 shares during the quarter. Alberta Investment Management Corp's holdings in Cloudflare were worth $16,519,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stratos Wealth Partners LTD. grew its position in shares of Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after purchasing an additional 77 shares during the period. Atomi Financial Group Inc. lifted its stake in Cloudflare by 3.3% in the 4th 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 in the last quarter. Chicago Partners Investment Group LLC lifted its stake in 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 acquiring an additional 105 shares in the last quarter. D.A. Davidson & CO. lifted its stake in Cloudflare by 0.5% in the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company's stock valued at $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Wealth Management Partners LLC lifted its stake in Cloudflare by 3.3% in the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company's stock valued at $382,000 after acquiring an additional 114 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Down 2.9 %

NYSE NET traded down $4.55 during trading hours on Friday, hitting $151.83. 3,652,849 shares of the company's stock were exchanged, compared to its average volume of 3,999,010. The stock has a 50-day simple moving average of $130.11 and a 200 day simple moving average of $103.08. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a market cap of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12. 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 (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In other Cloudflare news, COO Michelle Zatlyn sold 35,118 shares of the business's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares of the company's stock, valued at approximately $18,212,582.70. The trade was a 16.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 533,297 shares of company stock worth $62,604,696 over the last quarter. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. The Goldman Sachs Group upped their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. JMP Securities increased their price target on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research note on Friday, February 7th. Mizuho increased their price target on Cloudflare from $130.00 to $160.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. Stifel Nicolaus upped their price objective on Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a report on Friday, February 7th. Finally, Wells Fargo & Company upped their price objective on Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $136.28.

Cloudflare 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.