Natixis Cuts Stake in Cloudflare, Inc. (NYSE:NET)

Natixis lessened its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 36.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 20,384 shares of the company's stock after selling 11,788 shares during the quarter. Natixis' holdings in Cloudflare were worth $2,195,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Capital World Investors lifted its position in Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after acquiring an additional 68,661 shares during the last quarter. Groupama Asset Managment purchased a new position in Cloudflare in the fourth quarter worth about $269,200,000. Norges Bank bought a new stake in Cloudflare during the fourth quarter worth approximately $249,544,000. Finally, American Century Companies Inc. raised its position in Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on NET shares. Needham & Company LLC cut their target price on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, March 13th. Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. JMP Securities raised their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research report on Friday, February 7th. Finally, Susquehanna boosted their target price on Cloudflare from $95.00 to $170.00 and gave the company a "neutral" rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $134.84.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % 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, CAO Janel Riley sold 4,327 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 522,613 shares of company stock valued at $67,732,853 in the last 90 days. Insiders own 12.83% of the company's stock.

Cloudflare Stock Up 4.7 %

Shares of NYSE NET opened at $106.91 on Wednesday. The stock has a market capitalization of $36.89 billion, a PE ratio of -485.95 and a beta of 1.59. 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, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock's fifty day simple moving average is $125.32 and its two-hundred day simple moving average is $114.83.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.

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