Cloudflare, Inc. (NYSE:NET) Shares Sold by Xponance Inc.

Xponance Inc. cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 4.3% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 38,945 shares of the company’s stock after selling 1,739 shares during the period. Xponance Inc.’s holdings in Cloudflare were worth $3,243,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sunbelt Securities Inc. acquired a new position in shares of Cloudflare during the first quarter worth $29,000. Providence Capital Advisors LLC lifted its holdings in Cloudflare by 6,065.0% in the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after buying an additional 2,426 shares in the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after buying an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Cloudflare by 98.7% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after acquiring an additional 296 shares in the last quarter. Finally, ORG Partners LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $55,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

NET stock opened at $84.10 on Monday. The firm’s 50-day moving average is $96.38 and its two-hundred day moving average is $82.10. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Equities research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent analyst reports. Susquehanna raised their price objective on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Mizuho decreased their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research report on Monday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Cantor Fitzgerald reissued a “neutral” rating and issued a $100.00 target price on shares of Cloudflare in a research report on Wednesday, April 17th. Finally, JMP Securities lifted their price target on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $87.08.

Insiders Place Their Bets

In other news, Director Carl Ledbetter sold 10,031 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the transaction, the director now owns 1,454,919 shares in the company, valued at approximately $117,717,496.29. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Carl Ledbetter sold 10,031 shares of the firm’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $80.91, for a total transaction of $811,608.21. Following the completion of the transaction, the director now owns 1,454,919 shares of the company’s stock, valued at $117,717,496.29. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,044,323 shares of company stock worth $101,692,491. 14.80% of the stock is owned by corporate insiders.

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.