Banco Bilbao Vizcaya Argentaria S.A. Reduces Stake in Cloudflare, Inc. (NYSE:NET)

Banco Bilbao Vizcaya Argentaria S.A. reduced its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 97,424 shares of the company's stock after selling 14,566 shares during the period. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in Cloudflare were worth $10,540,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NET. Larson Financial Group LLC raised its position in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after acquiring an additional 517 shares during the last quarter. Versant Capital Management Inc raised its holdings in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after purchasing an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its position 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 period. Whittier Trust Co. boosted its stake in shares of Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new stake in shares of Cloudflare during the fourth quarter worth $65,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction that occurred on Thursday, April 17th. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20. Following the transaction, the insider now owns 413,413 shares in the company, valued at approximately $45,074,419.39. This represents a 5.84 % 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, CAO Janel Riley sold 4,327 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 496,973 shares of company stock worth $64,559,903 in the last quarter. 12.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on NET shares. Scotiabank upped their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research report on Tuesday, January 21st. Oppenheimer started coverage on Cloudflare in a research report on Thursday, March 20th. They set an "outperform" rating and a $150.00 target price on the stock. Royal Bank of Canada lowered their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group cut their price target on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, March 14th. Finally, Robert W. Baird reiterated a "neutral" rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $134.84.

Cloudflare Stock Up 1.8 %

Shares of NET stock traded up $2.16 on Friday, hitting $121.03. The stock had a trading volume of 2,594,194 shares, compared to its average volume of 3,194,107. 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 business has a 50 day moving average of $120.78 and a 200 day moving average of $115.67. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market cap of $41.76 billion, a price-to-earnings ratio of -550.14 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.