Rockefeller Capital Management L.P. Has $5.64 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Rockefeller Capital Management L.P. trimmed its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 5.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,371 shares of the company's stock after selling 2,798 shares during the quarter. Rockefeller Capital Management L.P.'s holdings in Cloudflare were worth $5,639,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hartline Investment Corp grew its holdings in Cloudflare by 1.5% during the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock worth $28,464,000 after acquiring an additional 3,957 shares during the period. Birchcreek Wealth Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $215,000. Strategic Blueprint LLC purchased a new position in Cloudflare in the fourth quarter valued at about $265,000. Clarendon Private LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth approximately $293,000. Finally, Savant Capital LLC purchased a new position in Cloudflare in the 4th quarter valued at approximately $237,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of research analyst reports. Guggenheim raised their price target on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research report on Friday, February 7th. Susquehanna upped their price target on shares of Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, February 10th. Cantor Fitzgerald increased their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Morgan Stanley reduced their target price on Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Mizuho raised Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price target for the company in a research report on Wednesday, April 16th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Cloudflare currently has an average rating of "Hold" and a consensus price target of $134.84.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michelle Zatlyn sold 25,640 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $109.03, for a total transaction of $2,795,529.20. Following the completion of the sale, the insider now owns 413,413 shares in the company, valued at $45,074,419.39. This represents a 5.84 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 548,253 shares of company stock valued at $70,819,909. Company insiders own 12.83% of the company's stock.

Cloudflare Stock Performance

NET stock traded up $3.99 during trading on Tuesday, reaching $106.10. 1,383,155 shares of the stock were exchanged, compared to its average volume of 3,172,301. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $36.61 billion, a P/E ratio of -482.92 and a beta of 1.59. The stock has a 50 day simple moving average of $125.32 and a 200-day simple moving average of $114.83.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare 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.