Cloudflare, Inc. (NYSE:NET) Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC decreased its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 36.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 257,735 shares of the company's stock after selling 145,675 shares during the quarter. Cloudflare makes up 2.5% of Grandeur Peak Global Advisors LLC's holdings, making the stock its 11th biggest position. Grandeur Peak Global Advisors LLC owned about 0.08% of Cloudflare worth $27,753,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after buying an additional 68,661 shares in the last quarter. Groupama Asset Managment acquired a new stake in Cloudflare in the 4th quarter valued at about $269,200,000. Norges Bank acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $249,544,000. American Century Companies Inc. grew its position in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock valued at $138,516,000 after purchasing an additional 23,641 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 33,864 shares of the company's stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company's stock, valued at $30,192,558.60. This represents a 11.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The disclosure for this sale can be found here. Insiders have sold 561,973 shares of company stock worth $73,056,260 over the last three months. Insiders own 12.83% of the company's stock.

Cloudflare Stock Down 0.6 %

Shares of NET traded down $0.70 during midday trading on Thursday, reaching $108.85. The stock had a trading volume of 1,135,251 shares, compared to its average volume of 3,179,381. The company has a market cap of $37.56 billion, a price-to-earnings ratio of -493.42 and a beta of 1.59. The company's fifty day simple moving average is $129.32 and its two-hundred day simple moving average is $113.82. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced 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%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on NET shares. Guggenheim raised their target price on Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. UBS Group decreased their price objective on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Finally, The Goldman Sachs Group cut their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus 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.