Cloudflare, Inc. (NYSE:NET) is Long Walk Management LP's Largest Position

Long Walk Management LP trimmed its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 3.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 359,000 shares of the company's stock after selling 13,250 shares during the period. Cloudflare comprises 14.1% of Long Walk Management LP's holdings, making the stock its biggest holding. Long Walk Management LP owned approximately 0.10% of Cloudflare worth $38,657,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Apollon Wealth Management LLC lifted its position in shares of Cloudflare by 9.4% in the 3rd quarter. Apollon Wealth Management LLC now owns 3,119 shares of the company's stock worth $252,000 after purchasing an additional 269 shares during the period. Prime Capital Investment Advisors LLC lifted its position in shares of Cloudflare by 5.3% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 6,708 shares of the company's stock worth $543,000 after purchasing an additional 338 shares during the period. Main Street Financial Solutions LLC lifted its position in shares of Cloudflare by 15.3% in the 3rd quarter. Main Street Financial Solutions LLC now owns 2,961 shares of the company's stock worth $240,000 after purchasing an additional 392 shares during the period. KBC Group NV lifted its position in shares of Cloudflare by 0.9% in the 3rd quarter. KBC Group NV now owns 37,237 shares of the company's stock worth $3,012,000 after purchasing an additional 329 shares during the period. Finally, Metis Global Partners LLC lifted its position in shares of Cloudflare by 5.1% in the 3rd quarter. Metis Global Partners LLC now owns 3,786 shares of the company's stock worth $306,000 after purchasing an additional 183 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred 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 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 sold a total of 609,150 shares of company stock worth $78,440,970 over the last three months. Insiders own 12.83% of the company's stock.

Cloudflare Trading Up 0.3 %

Cloudflare stock traded up $0.31 during midday trading on Thursday, hitting $117.89. 2,475,901 shares of the stock were exchanged, compared to its average volume of 3,014,098. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27. The stock's 50-day simple moving average is $136.54 and its 200 day simple moving average is $109.42. 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 quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NET shares. Mizuho decreased their target price on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Cantor Fitzgerald increased their target price 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. The Goldman Sachs Group decreased their target price on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Morgan Stanley started coverage on shares of Cloudflare in a research note on Tuesday. They set an "overweight" rating on the stock. Finally, Needham & Company LLC cut their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $131.64.

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.