Cloudflare (NYSE:NET) Cut to "Sell" at DZ Bank

DZ Bank cut shares of Cloudflare (NYSE:NET - Free Report) from a hold rating to a sell rating in a research note published on Tuesday, MarketBeat.com reports. They currently have $145.00 price objective on the stock.

Several other research analysts also recently issued reports on the stock. Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research note on Monday. JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Cantor Fitzgerald upped their target price 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. Needham & Company LLC upped their target price on shares of Cloudflare from $110.00 to $160.00 and gave the stock a "buy" rating in a research note on Monday, February 3rd. Finally, Morgan Stanley upped their target price on shares of Cloudflare from $130.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $135.28.

Cloudflare Stock Down 2.4 %

NYSE:NET traded down $4.18 during mid-day trading on Tuesday, hitting $172.33. 2,109,426 shares of the company's stock were exchanged, compared to its average volume of 3,808,549. Cloudflare has a one year low of $66.24 and a one 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. The business has a fifty day moving average price of $122.83 and a 200 day moving average price of $98.96. The company has a market cap of $59.14 billion, a PE ratio of -784.77 and a beta of 1.12.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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%. Equities analysts predict that Cloudflare will post -0.04 EPS for the current year.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company's stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 528,970 shares of company stock valued at $59,959,801 over the last three months. Corporate insiders own 12.83% of the company's stock.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock worth $3,812,942,000 after acquiring an additional 260,415 shares during the last quarter. Geode Capital Management LLC boosted its position 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 acquiring an additional 68,661 shares during the last quarter. Groupama Asset Managment bought a new position in shares of Cloudflare during the fourth quarter worth $269,200,000. Norges Bank bought a new position in shares of Cloudflare during the fourth quarter worth $249,544,000. Finally, American Century Companies Inc. boosted its position in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

About Cloudflare

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.