Cloudflare, Inc. (NYSE:NET) Holdings Trimmed by Holocene Advisors LP

Holocene Advisors LP lessened its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 18.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 627,689 shares of the company's stock after selling 140,128 shares during the quarter. Holocene Advisors LP owned approximately 0.18% of Cloudflare worth $50,774,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Hartline Investment Corp boosted its stake in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock worth $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare in the 3rd quarter worth about $25,588,000. Charles Schwab Investment Management Inc. boosted its stake in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service lifted its stake in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock valued at $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Cloudflare during the 2nd quarter worth about $7,319,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company's stock, valued at approximately $17,372,001.96. This represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now directly owns 185,386 shares of the company's stock, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 603,952 shares of company stock valued at $52,833,612. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NET shares. Morgan Stanley upgraded Cloudflare from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $92.00 to $130.00 in a report on Monday. Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a report on Friday, November 8th. Piper Sandler boosted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a report on Friday, November 8th. Wells Fargo & Company boosted their target price on Cloudflare from $105.00 to $110.00 and gave the stock an "overweight" rating in a report on Friday, November 8th. Finally, Susquehanna boosted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and a consensus target price of $94.40.

Cloudflare Stock Down 0.2 %

NYSE NET traded down $0.24 during trading hours on Tuesday, hitting $104.81. The company had a trading volume of 1,278,555 shares, compared to its average volume of 3,166,350. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a fifty day simple moving average of $90.64 and a 200-day simple moving average of $82.73.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Research analysts predict 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.