Blueshift Asset Management LLC Sells 32,388 Shares of Cloudflare, Inc. (NYSE:NET)

Blueshift Asset Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 81.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,285 shares of the company's stock after selling 32,388 shares during the quarter. Blueshift Asset Management LLC's holdings in Cloudflare were worth $784,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Quarry LP raised its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares during the period. Quest Partners LLC acquired a new stake in Cloudflare in the third quarter worth $54,000. Larson Financial Group LLC lifted its stake in Cloudflare by 1,988.5% in the fourth 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 boosted its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC increased its holdings 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 acquiring an additional 217 shares during the period. Institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NET shares. Guggenheim upped their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research report on Friday, February 7th. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. boosted their price target on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, December 19th. Finally, Piper Sandler decreased their target price on shares of Cloudflare from $153.00 to $131.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare has an average rating of "Hold" and an average target price of $131.64.

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Cloudflare Trading Up 4.2 %

Shares of NYSE:NET traded up $5.00 during midday trading on Monday, reaching $124.22. The company had a trading volume of 3,110,313 shares, compared to its average volume of 3,026,385. The company has a fifty day simple moving average of $137.01 and a two-hundred day simple moving average of $110.56. The firm has a market cap of $42.86 billion, a price-to-earnings ratio of -564.61 and a beta of 1.27. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced 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%. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at $35,229,840. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at $20,824,263.60. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 566,766 shares of company stock worth $73,779,200 over the last quarter. Corporate insiders own 12.83% of the company's stock.

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.