Asset Management One Co. Ltd. Cuts Stock Position in Cloudflare, Inc. (NYSE:NET)

Asset Management One Co. Ltd. trimmed its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,307 shares of the company's stock after selling 8,103 shares during the period. Asset Management One Co. Ltd. owned approximately 0.07% of Cloudflare worth $25,474,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hartline Investment Corp increased its position in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock valued at $21,062,000 after buying an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare in the 3rd quarter valued at about $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after buying an additional 29,960 shares in the last quarter. National Pension Service increased its position in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock valued at $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC bought a new stake in Cloudflare in the 4th quarter valued at about $265,000. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Performance

Shares of Cloudflare stock traded down $3.43 during trading hours on Tuesday, reaching $167.73. The company had a trading volume of 3,104,053 shares, compared to its average volume of 3,833,660. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The business has a fifty day simple moving average of $126.45 and a 200 day simple moving average of $101.15. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market cap of $57.56 billion, a PE ratio of -762.24 and a beta of 1.12.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly 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 return on equity of 5.52% and a negative net margin of 4.72%. On average, analysts anticipate that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was 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 in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 500,335 shares of company stock valued at $57,238,617 over the last three months. Company insiders own 12.83% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on NET shares. Wells Fargo & Company boosted their price objective on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Scotiabank boosted their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a report on Tuesday, January 21st. Royal Bank of Canada boosted their price objective on Cloudflare from $123.00 to $170.00 and gave the stock an "outperform" rating in a report on Friday, February 7th. Mizuho boosted their price objective on Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group boosted their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Four 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 stock. According to MarketBeat, Cloudflare has an average rating of "Hold" and a consensus target price of $136.28.

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.