Edmond DE Rothschild Holding S.A. Sells 523,732 Shares of Cloudflare, Inc. (NYSE:NET)

Edmond DE Rothschild Holding S.A. reduced its stake in Cloudflare, Inc. (NYSE:NET) by 100.0% during the fourth quarter, HoldingsChannel reports. The firm owned 238 shares of the company’s stock after selling 523,732 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Cloudflare were worth $26,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pier 88 Investment Partners LLC lifted its holdings in shares of Cloudflare by 1.9% during the 4th quarter. Pier 88 Investment Partners LLC now owns 15,920 shares of the company’s stock worth $1,714,000 after acquiring an additional 300 shares during the last quarter. AIA Group Ltd lifted its stake in Cloudflare by 30.6% during the fourth quarter. AIA Group Ltd now owns 42,954 shares of the company’s stock worth $4,625,000 after purchasing an additional 10,075 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Cloudflare by 47.0% in the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock worth $639,000 after purchasing an additional 1,896 shares in the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of Cloudflare by 16.6% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 23,992 shares of the company’s stock valued at $2,583,000 after purchasing an additional 3,411 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its holdings in shares of Cloudflare by 3.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 5,032 shares of the company’s stock valued at $582,000 after buying an additional 155 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have commented on NET shares. Wells Fargo & Company increased their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. The Goldman Sachs Group decreased their target price on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and upped their price target for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. Piper Sandler decreased their price objective on Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Oppenheimer started coverage on Cloudflare in a report on Thursday, March 20th. They set an “outperform” rating and a $150.00 target price for the company. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $135.64.

Cloudflare Stock Up 3.6 %

NET stock opened at $119.85 on Thursday. The company has a market cap of $41.36 billion, a price-to-earnings ratio of -544.77 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business’s 50-day moving average is $137.24 and its two-hundred day moving average is $112.34. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This trade represents a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 627,046 shares of company stock valued at $81,158,262. 12.83% of the stock is owned by company 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.