Candriam S.C.A. Sells 7,997 Shares of Cloudflare, Inc. (NYSE:NET)

Candriam S.C.A. lowered its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 65,633 shares of the company's stock after selling 7,997 shares during the quarter. Candriam S.C.A.'s holdings in Cloudflare were worth $7,067,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Hartline Investment Corp boosted its position in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock worth $21,062,000 after acquiring an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare during the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after acquiring an additional 29,960 shares during the last quarter. Birchcreek Wealth Management LLC bought a new stake in shares of Cloudflare during the 4th quarter worth approximately $215,000. Finally, Strategic Blueprint LLC bought a new stake in shares of Cloudflare during the 4th quarter worth approximately $265,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of analyst reports. Piper Sandler reiterated a "neutral" rating on shares of Cloudflare in a research note on Monday, March 3rd. JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. The Goldman Sachs Group upped their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price objective on Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research note on Monday, January 27th. Finally, Stifel Nicolaus upped their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average price target of $136.28.

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Cloudflare Price Performance

Shares of NYSE NET traded up $3.68 during mid-day trading on Tuesday, reaching $120.29. The company had a trading volume of 5,897,995 shares, compared to its average volume of 2,997,103. 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, Inc. has a one year low of $66.24 and a one year high of $177.37. The firm has a market cap of $41.51 billion, a price-to-earnings ratio of -546.78 and a beta of 1.27. The business's 50-day simple moving average is $135.96 and its 200 day simple moving average is $107.94.

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 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, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $145.04, for a total value of $7,597,775.36. Following the transaction, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,406 shares of company stock worth $76,705,729 over the last 90 days. Insiders own 12.83% of the company's stock.

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.