Dynamic Technology Lab Private Ltd Decreases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Dynamic Technology Lab Private Ltd reduced its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 71.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,570 shares of the company's stock after selling 24,024 shares during the quarter. Dynamic Technology Lab Private Ltd's holdings in Cloudflare were worth $1,030,000 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. Resona Asset Management Co. Ltd. bought a new position in Cloudflare in the fourth quarter worth about $10,296,000. Proem Advisors LLC purchased a new position in shares of Cloudflare in the 4th quarter valued at approximately $5,384,000. Pitcairn Co. grew its stake in Cloudflare by 73.1% in the fourth quarter. Pitcairn Co. now owns 7,267 shares of the company's stock worth $783,000 after purchasing an additional 3,069 shares during the period. ExodusPoint Capital Management LP bought a new position in Cloudflare in the fourth quarter worth $9,284,000. Finally, Motley Fool Asset Management LLC boosted its holdings in shares of Cloudflare by 7.9% during the 4th quarter. Motley Fool Asset Management LLC now owns 5,055 shares of the company's stock valued at $544,000 after buying an additional 369 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

Shares of NYSE NET traded down $1.64 during midday trading on Friday, reaching $103.86. The stock had a trading volume of 1,108,135 shares, compared to its average volume of 3,173,002. The company has a market capitalization of $35.84 billion, a price-to-earnings ratio of -472.75 and a beta of 1.59. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a 50-day moving average of $132.54 and a 200-day moving average of $113.34. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Insiders Place Their Bets

In other news, CAO Janel Riley sold 4,327 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 2,311 shares of the business's stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $107.75, for a total value of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares in the company, valued at $44,545,250.75. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 561,973 shares of company stock worth $73,056,260 in the last three months. 12.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on NET shares. Needham & Company LLC cut their price objective on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, March 13th. UBS Group reduced their price target on Cloudflare from $165.00 to $135.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Piper Sandler cut their price objective on shares of Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday. 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 report on Friday, March 14th. Finally, Oppenheimer started coverage on shares of Cloudflare in a report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $134.88.

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.