International Assets Investment Management LLC Sells 179,807 Shares of Cloudflare, Inc. (NYSE:NET)

International Assets Investment Management LLC reduced its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 98.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,115 shares of the company's stock after selling 179,807 shares during the period. International Assets Investment Management LLC's holdings in Cloudflare were worth $238,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of NET. Geode Capital Management LLC boosted its position in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock valued at $390,130,000 after buying an additional 121,810 shares in the last quarter. Marshall Wace LLP increased its holdings in Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company's stock worth $128,265,000 after purchasing an additional 855,334 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after purchasing an additional 29,960 shares in the last quarter. Swiss National Bank grew its holdings in shares of Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company's stock worth $72,283,000 after purchasing an additional 10,100 shares during the last quarter. Finally, National Pension Service increased its stake in shares of Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company's stock valued at $38,174,000 after buying an additional 4,062 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Up 1.1 %

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 company has a market capitalization of $38.41 billion, a P/E ratio of -430.50 and a beta of 1.10. The business's 50 day moving average is $105.89 and its 200 day moving average is $90.68. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $119.42. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NET. Stifel Nicolaus upgraded shares of Cloudflare from a "hold" rating to a "buy" rating and lifted their target price for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. Piper Sandler boosted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a "neutral" rating in a research note on Friday, November 8th. UBS Group raised their target price on Cloudflare from $88.00 to $95.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Morgan Stanley upgraded Cloudflare from an "equal weight" rating to an "overweight" rating and upped their price target for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada raised their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a research report on Friday, January 3rd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $102.30.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company's stock, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare 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 sale, the chief executive officer now owns 10,762 shares in the company, valued at $1,223,962.26. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 592,236 shares of company stock valued at $61,512,210. Corporate insiders own 12.83% 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.