CANADA LIFE ASSURANCE Co Cuts Stock Position in Cloudflare, Inc. (NYSE:NET)

CANADA LIFE ASSURANCE Co reduced its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 1.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 364,315 shares of the company's stock after selling 5,107 shares during the quarter. CANADA LIFE ASSURANCE Co owned about 0.11% of Cloudflare worth $39,251,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc grew its holdings in shares of 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 acquiring an additional 170 shares during the period. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after purchasing an additional 217 shares during the period. Whittier Trust Co. grew its stake in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after purchasing an additional 329 shares during the period. Finally, Sava Infond d.o.o. purchased a new position in Cloudflare during the fourth quarter valued at $65,000. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

Cloudflare stock traded up $4.80 during midday trading on Tuesday, hitting $106.91. The stock had a trading volume of 2,475,585 shares, compared to its average volume of 3,176,380. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a market capitalization of $36.89 billion, a PE ratio of -485.95 and a beta of 1.59. The firm's fifty day moving average is $125.32 and its two-hundred day moving average is $114.83. 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) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total transaction of $7,511,341.76. Following the completion of the transaction, the chief executive officer now owns 413,413 shares of the company's stock, valued at $59,279,290.07. This represents a 11.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm's 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 transaction, the insider now owns 175,688 shares of the company's stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 548,253 shares of company stock worth $70,819,909 over the last quarter. Insiders own 12.83% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on NET. JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Guggenheim raised their price objective on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Susquehanna increased their target price on Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday, February 10th. The Goldman Sachs Group lowered their price target on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Finally, DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare has an average rating of "Hold" and an average price target of $134.84.

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.