Gilder Gagnon Howe & Co. LLC Has $241.13 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Gilder Gagnon Howe & Co. LLC lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,239,293 shares of the company's stock after selling 47,806 shares during the period. Cloudflare comprises about 2.6% of Gilder Gagnon Howe & Co. LLC's portfolio, making the stock its 7th biggest position. Gilder Gagnon Howe & Co. LLC owned 0.65% of Cloudflare worth $241,127,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Advisory Resource Group boosted its stake in shares of Cloudflare by 1.6% in the 3rd quarter. Advisory Resource Group now owns 12,611 shares of the company's stock valued at $1,020,000 after purchasing an additional 195 shares during the last quarter. Virtu Financial LLC acquired a new stake in Cloudflare during the 3rd quarter worth about $1,268,000. Wilmington Savings Fund Society FSB bought a new position in shares of Cloudflare in the 3rd quarter worth about $204,000. Tidal Investments LLC increased its holdings in Cloudflare by 18.0% in the third quarter. Tidal Investments LLC now owns 23,238 shares of the company's stock worth $1,880,000 after purchasing an additional 3,550 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after buying an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Price Performance

Shares of NYSE:NET opened at $121.03 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company's 50-day moving average is $120.78 and its 200 day moving average is $115.30. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market capitalization of $41.76 billion, a P/E ratio of -550.14 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Activity

In other news, insider Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $109.03, for a total transaction of $2,795,529.20. Following the sale, the insider now directly owns 413,413 shares in the company, valued at $45,074,419.39. This represents a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company's stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 496,973 shares of company stock valued at $64,559,903 in the last 90 days. Insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NET. Piper Sandler cut their target price on shares of Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 8th. The Goldman Sachs Group reduced their price objective on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Guggenheim boosted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of "Hold" and a consensus target price of $134.84.

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.

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