Harbor Capital Advisors Inc. Sells 5,016 Shares of Cloudflare, Inc. (NYSE:NET)

Harbor Capital Advisors Inc. decreased its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 38.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,054 shares of the company's stock after selling 5,016 shares during the period. Harbor Capital Advisors Inc.'s holdings in Cloudflare were worth $867,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Capital Market Strategies LLC acquired a new stake in shares of Cloudflare in the fourth quarter worth $647,000. Nordea Investment Management AB grew its stake in shares of Cloudflare by 0.7% in the fourth quarter. Nordea Investment Management AB now owns 39,776 shares of the company's stock worth $4,307,000 after acquiring an additional 261 shares during the last quarter. Everence Capital Management Inc. acquired a new stake in shares of Cloudflare in the fourth quarter worth $803,000. GAMMA Investing LLC boosted its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after buying an additional 217 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the fourth 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. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent research reports. Scotiabank lifted their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a "sector perform" rating in a research note on Friday, November 8th. Stifel Nicolaus upgraded shares of Cloudflare from a "hold" rating to a "buy" rating and lifted their price target for the stock from $95.00 to $136.00 in a research note on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of Cloudflare from a "sell" rating to a "buy" rating and lifted their price target for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Wells Fargo & Company lifted their price target on shares of Cloudflare from $110.00 to $135.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 7th. Finally, UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $102.30.

Cloudflare Trading Up 1.1 %

Shares of Cloudflare stock traded up $1.22 during trading on Tuesday, hitting $111.93. 1,927,971 shares of the company were exchanged, compared to its average volume of 2,819,925. The firm has a market capitalization of $38.41 billion, a P/E ratio of -430.50 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42. The firm's fifty day moving average price is $105.89 and its 200 day moving average price is $90.68. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction that occurred 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 in the company, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $90.92, for a total value of $4,762,753.28. Following the completion of the sale, the chief executive officer now owns 10,761 shares in the company, valued at $978,390.12. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 592,236 shares of company stock worth $61,512,210. 12.83% of the stock is owned by company 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.