Cloudflare, Inc. (NYSE:NET) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lowered its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 56.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 113,356 shares of the company's stock after selling 149,425 shares during the period. Vontobel Holding Ltd.'s holdings in Cloudflare were worth $12,206,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hartline Investment Corp grew its position in Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company's stock worth $21,062,000 after acquiring an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare during the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. raised its stake 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 worth $93,656,000 after buying an additional 29,960 shares in the last quarter. National Pension Service grew its holdings in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new stake in shares of Cloudflare during the fourth quarter valued at $265,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analysts Set New Price Targets

NET has been the subject of a number of research reports. Needham & Company LLC restated a "buy" rating and set a $185.00 target price on shares of Cloudflare in a research report on Tuesday. Truist Financial upped their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research report on Tuesday, January 28th. Mizuho upped their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. UBS Group upped their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, January 27th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $136.28.

Cloudflare Stock Down 1.6 %

Shares of NET traded down $2.71 during midday trading on Tuesday, reaching $168.45. The stock had a trading volume of 5,173,674 shares, compared to its average volume of 3,872,209. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company's fifty day simple moving average is $126.45 and its two-hundred day simple moving average is $101.15. The company has a market cap of $57.81 billion, a price-to-earnings ratio of -765.69 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Equities research analysts expect that Cloudflare, Inc. will post -0.04 earnings per share for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the transaction, the chief financial officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction 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 transaction, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold 500,335 shares of company stock valued at $57,238,617 in the last ninety days. Insiders own 12.83% of the company's stock.

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.