Whetstone Capital Advisors LLC Sells 5,205 Shares of Cloudflare, Inc. (NYSE:NET)

Whetstone Capital Advisors LLC lessened its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 318,067 shares of the company's stock after selling 5,205 shares during the period. Cloudflare accounts for 11.0% of Whetstone Capital Advisors LLC's holdings, making the stock its biggest holding. Whetstone Capital Advisors LLC owned about 0.09% of Cloudflare worth $34,249,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Hartline Investment Corp boosted its position in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company's stock worth $28,464,000 after purchasing an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC purchased a new stake in Cloudflare during the fourth quarter worth about $215,000. Strategic Blueprint LLC bought a new position in shares of Cloudflare during the 4th quarter valued at approximately $265,000. Clarendon Private LLC bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $293,000. Finally, Savant Capital LLC purchased a new stake in Cloudflare in the fourth quarter worth $237,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on NET shares. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and raised their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Jefferies Financial Group boosted their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research note on Thursday, December 19th. Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research report on Monday, February 3rd. Finally, The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research report on Friday, March 14th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $134.88.

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Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 35,099 shares of the company's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 2,311 shares of the business's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the sale, the chief executive officer now owns 413,413 shares in the company, valued at approximately $44,545,250.75. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,973 shares of company stock worth $73,056,260 over the last three months. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

NET stock traded up $0.59 on Monday, hitting $106.84. The company had a trading volume of 2,539,513 shares, compared to its average volume of 3,186,966. The stock has a market cap of $36.87 billion, a price-to-earnings ratio of -485.64 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. The stock's 50-day simple moving average is $131.11 and its 200 day simple moving average is $113.89. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share 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.