Blair William & Co. IL Sells 27,562 Shares of Cloudflare, Inc. (NYSE:NET)

Blair William & Co. IL reduced its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 84.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,899 shares of the company's stock after selling 27,562 shares during the period. Blair William & Co. IL's holdings in Cloudflare were worth $528,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Quarry LP increased its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC lifted its holdings in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in Cloudflare in the fourth quarter valued at approximately $65,000. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of several recent research reports. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and raised their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Needham & Company LLC cut their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a report on Friday, February 7th. Finally, Cantor Fitzgerald boosted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $134.88.

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Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction that occurred 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 in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 33,864 shares of the business's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $119.40, for a total transaction of $4,043,361.60. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,192,558.60. This represents a 11.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 507,278 shares of company stock valued at $67,522,751. Corporate insiders own 12.83% of the company's stock.

Cloudflare Trading Up 16.1 %

NET stock traded up $15.66 during mid-day trading on Wednesday, reaching $113.11. 7,222,587 shares of the stock traded hands, compared to its average volume of 3,175,300. The stock's fifty day moving average is $133.16 and its 200-day moving average is $113.20. The company has a market cap of $39.03 billion, a P/E ratio of -514.12 and a beta of 1.59. 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, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

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