Cloudflare, Inc. (NYSE:NET) Shares Sold by Marshall Wace LLP

Marshall Wace LLP decreased its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 43.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,635,262 shares of the company's stock after selling 1,265,873 shares during the quarter. Marshall Wace LLP owned approximately 0.48% of Cloudflare worth $176,085,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the company. CreativeOne Wealth LLC lifted its stake in shares of Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after purchasing an additional 58 shares during the last quarter. Stratos Wealth Partners LTD. increased its stake in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock worth $319,000 after buying an additional 94 shares during the period. Baxter Bros Inc. raised its stake in Cloudflare by 3.8% in the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after acquiring an additional 100 shares during the last quarter. Finally, Chicago Partners Investment Group LLC increased its holdings in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after purchasing an additional 105 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Activity

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the company's 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 sale, the insider now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $143.39, for a total value of $7,511,341.76. Following the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at $59,279,290.07. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 579,389 shares of company stock valued at $74,559,343. 12.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

NET has been the topic of a number of research reports. 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 research note on Thursday, March 13th. Susquehanna boosted their price objective on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a report on Monday, February 10th. JMP Securities upped their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. Cantor Fitzgerald raised their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $134.84.

Cloudflare Stock Down 5.2 %

NET traded down $5.58 on Monday, reaching $102.32. The company's stock had a trading volume of 600,887 shares, compared to its average volume of 3,172,445. The company has a market capitalization of $35.31 billion, a price-to-earnings ratio of -465.09 and a beta of 1.59. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a 50 day moving average of $126.73 and a two-hundred day moving average of $114.70.

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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.