Privium Fund Management B.V. Sells 10,000 Shares of Cloudflare, Inc. (NYSE:NET)

Privium Fund Management B.V. reduced its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 14.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,000 shares of the company's stock after selling 10,000 shares during the quarter. Cloudflare comprises 1.2% of Privium Fund Management B.V.'s holdings, making the stock its 24th largest position. Privium Fund Management B.V.'s holdings in Cloudflare were worth $4,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC raised its holdings in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock valued at $80,000 after acquiring an additional 119 shares in the last quarter. Elo Mutual Pension Insurance Co lifted its position in Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company's stock worth $2,253,000 after purchasing an additional 136 shares during the period. Quarry LP grew its stake in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after buying an additional 146 shares in the last quarter. Forum Financial Management LP increased its holdings in Cloudflare by 6.1% in the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company's stock valued at $234,000 after buying an additional 162 shares during the period. Finally, Soltis Investment Advisors LLC raised its position in Cloudflare by 0.5% during the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company's stock valued at $3,041,000 after purchasing an additional 168 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Down 4.6 %

NET traded down $4.41 during trading hours on Friday, hitting $91.25. The stock had a trading volume of 7,777,228 shares, compared to its average volume of 2,315,862. Cloudflare, Inc. has a 1 year low of $61.34 and a 1 year high of $116.00. The company's fifty day simple moving average is $84.77 and its 200 day simple moving average is $80.64. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.53%. Analysts predict that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $24,422,966.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares of the company's stock, valued at approximately $24,422,966.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maria S. Eitel sold 6,875 shares of Cloudflare stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the sale, the director now owns 5,927 shares of the company's stock, valued at approximately $521,576. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock valued at $39,737,342 over the last three months. Company insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

NET has been the topic of several research analyst reports. Wolfe Research initiated coverage on Cloudflare in a research note on Tuesday, July 16th. They issued a "peer perform" rating on the stock. Robert W. Baird lifted their price target on Cloudflare from $94.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, August 2nd. Scotiabank raised their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a report on Friday. Needham & Company LLC reissued a "buy" rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Finally, Cantor Fitzgerald lifted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $92.88.

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.