IQ EQ FUND MANAGEMENT IRELAND Ltd Has $5.90 Million Stake in Cloudflare, Inc. (NYSE:NET)

IQ EQ FUND MANAGEMENT IRELAND Ltd lowered its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 30.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 54,769 shares of the company's stock after selling 23,976 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Cloudflare were worth $5,898,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Quarry LP boosted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company's stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC acquired a new position in Cloudflare in the third quarter valued at approximately $54,000. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares during the last quarter. Versant Capital Management Inc grew its holdings in 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 acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after acquiring an additional 217 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Down 3.6 %

Shares of NYSE:NET traded down $4.17 during midday trading on Monday, reaching $110.75. The company had a trading volume of 2,180,209 shares, compared to its average volume of 3,077,801. The stock has a market cap of $38.22 billion, a PE ratio of -503.77 and a beta of 1.27. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The business's 50 day moving average price is $137.47 and its 200 day moving average price is $111.56. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Remove Ads

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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%. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 618,046 shares of company stock valued at $80,142,792 in the last quarter. 12.83% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on NET shares. Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and raised their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a report on Tuesday, January 28th. Susquehanna upped their price target on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research note on Monday, February 10th. JPMorgan Chase & Co. lifted their price objective 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. Finally, Oppenheimer assumed coverage on shares of Cloudflare in a research note on Thursday, March 20th. They issued an "outperform" rating and a $150.00 target price for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $135.64.

Cloudflare Company 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.