Cloudflare, Inc. (NYSE:NET) is Glynn Capital Management LLC's 6th Largest Position

Glynn Capital Management LLC lowered its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 14.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 215,087 shares of the company's stock after selling 36,021 shares during the quarter. Cloudflare comprises 5.5% of Glynn Capital Management LLC's holdings, making the stock its 6th largest holding. Glynn Capital Management LLC owned 0.06% of Cloudflare worth $23,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parnassus Investments LLC grew its position in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company's stock worth $11,196,000 after buying an additional 131,319 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Generate Investment Management Ltd purchased a new stake in shares of Cloudflare during the 4th quarter valued at $12,946,000. Worldquant Millennium Advisors LLC acquired a new stake in shares of Cloudflare in the 3rd quarter worth $8,535,000. Finally, Proficio Capital Partners LLC acquired a new position in Cloudflare during the 4th quarter valued at about $100,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on NET. Susquehanna boosted their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Piper Sandler dropped their price objective on shares of Cloudflare from $153.00 to $131.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. JPMorgan Chase & Co. upped their target price on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Cantor Fitzgerald lifted their price target on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and increased their price objective for the company from $95.00 to $145.00 in a report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued 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 $131.64.

Remove Ads

Cloudflare Trading Up 0.9 %

NYSE:NET traded up $1.01 during mid-day trading on Friday, reaching $118.95. The company's stock had a trading volume of 4,321,599 shares, compared to its average volume of 3,026,045. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company's fifty day simple moving average is $136.73 and its two-hundred day simple moving average is $110.24. 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 stock has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET - Get Free Report) last released its 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction dated 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 transaction, the insider now directly owns 175,688 shares in the company, 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 sold 566,766 shares of company stock worth $73,779,200 over the last three months. 12.83% of the stock is owned by insiders.

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.