Cloudflare, Inc. (NYSE:NET) is WIM INVESTMENT MANAGEMENT Ltd's 5th Largest Position

WIM INVESTMENT MANAGEMENT Ltd cut its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 25.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 237,249 shares of the company's stock after selling 79,083 shares during the quarter. Cloudflare accounts for approximately 8.8% of WIM INVESTMENT MANAGEMENT Ltd's holdings, making the stock its 5th biggest holding. WIM INVESTMENT MANAGEMENT Ltd owned approximately 0.07% of Cloudflare worth $25,547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NET. Geode Capital Management LLC grew its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock worth $138,516,000 after purchasing an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company's stock worth $131,559,000 after buying an additional 63,945 shares during the period. Swiss National Bank increased its stake in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company's stock worth $72,283,000 after buying an additional 10,100 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in Cloudflare by 0.4% during the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company's stock valued at $71,250,000 after buying an additional 2,483 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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Cloudflare Stock Up 0.9 %

Cloudflare stock traded up $1.01 during mid-day trading on Friday, hitting $118.95. The company had a trading volume of 4,321,599 shares, compared to its average volume of 3,026,045. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. 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 moving average price is $136.73 and its two-hundred day moving average price is $110.24. The company has a market capitalization of $41.05 billion, a PE ratio of -540.70 and a beta of 1.27.

Cloudflare (NYSE:NET - Get Free Report) last announced 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on NET shares. Robert W. Baird reissued a "neutral" rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JMP Securities upped their target price on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a report on Friday, February 7th. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and lifted their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Finally, DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Four equities 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 stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of "Hold" and a consensus target price of $131.64.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,223,962.26. The trade was a 82.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 566,766 shares of company stock worth $73,779,200. Corporate 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.