Moloney Securities Asset Management LLC Lowers Position in Cloudflare, Inc. (NYSE:NET)

Moloney Securities Asset Management LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 30.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,725 shares of the company's stock after selling 2,487 shares during the quarter. Moloney Securities Asset Management LLC's holdings in Cloudflare were worth $616,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of NET. Sanctuary Advisors LLC acquired a new stake in Cloudflare during the 2nd quarter valued at $906,000. CWM LLC lifted its stake in shares of Cloudflare by 91.0% during the 3rd quarter. CWM LLC now owns 9,690 shares of the company's stock worth $784,000 after buying an additional 4,617 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Cloudflare by 41.7% during the 3rd quarter. Wedmont Private Capital now owns 3,797 shares of the company's stock worth $306,000 after buying an additional 1,118 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Cloudflare by 285.2% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 2,296 shares of the company's stock worth $186,000 after buying an additional 1,700 shares during the period. Finally, Inspire Investing LLC grew its stake in Cloudflare by 12.4% in the 3rd quarter. Inspire Investing LLC now owns 3,550 shares of the company's stock valued at $287,000 after buying an additional 391 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Trading Up 2.0 %

Shares of NET stock traded up $3.45 during trading hours on Thursday, hitting $176.28. 2,794,080 shares of the company's stock traded hands, compared to its average volume of 3,872,917. The stock has a market cap of $60.50 billion, a PE ratio of -801.28 and a beta of 1.12. The stock's 50 day simple moving average is $122.83 and its 200 day simple moving average is $98.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $176.73.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results 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%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company's stock, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction 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 sale, the insider now directly owns 175,688 shares of the company's stock, valued at approximately $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 581,354 shares of company stock valued at $64,625,120 over the last quarter. Insiders own 12.83% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of research analyst reports. Baird R W cut Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price target on Cloudflare from $123.00 to $170.00 and gave the company an "outperform" rating in a research note on Friday, February 7th. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. JMP Securities lifted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Finally, Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus target price of $135.28.

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.