Cloudflare, Inc. (NYSE:NET) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lessened its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 808,202 shares of the company's stock after selling 122,503 shares during the quarter. Nikko Asset Management Americas Inc. owned about 0.24% of Cloudflare worth $87,027,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the 3rd quarter valued at approximately $25,588,000. Hartline Investment Corp increased its holdings in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock valued at $28,464,000 after buying an additional 3,957 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cloudflare by 2.7% in 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 buying an additional 29,960 shares in the last quarter. Birchcreek Wealth Management LLC acquired a new position in shares of Cloudflare in the fourth quarter worth about $215,000. Finally, Strategic Blueprint LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth about $265,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total value of $1,200,000.00. Following the sale, the chief financial officer now directly owns 293,582 shares in the company, valued at approximately $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at $48,501,613.16. The trade was a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock worth $73,779,200 in the last ninety days. 12.83% of the stock is owned by corporate insiders.

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Cloudflare Trading Up 0.9 %

Shares of NYSE NET traded up $1.01 during trading on Friday, reaching $118.95. The stock had a trading volume of 4,321,599 shares, compared to its average volume of 3,020,634. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $41.05 billion, a P/E ratio of -540.70 and a beta of 1.27. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The business's 50-day moving average price is $136.61 and its 200-day moving average price is $109.54.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Piper Sandler reduced their price target on Cloudflare from $153.00 to $131.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Royal Bank of Canada reduced their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. JMP Securities upped their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a report on Tuesday, February 11th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has an average rating of "Hold" and a consensus target price of $131.64.

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.