Oppenheimer & Co. Inc. Sells 140 Shares of Cloudflare, Inc. (NYSE:NET)

Oppenheimer & Co. Inc. lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 0.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,285 shares of the company’s stock after selling 140 shares during the period. Oppenheimer & Co. Inc.’s holdings in Cloudflare were worth $1,646,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NET. WIM INVESTMENT MANAGEMENT Ltd bought a new position in Cloudflare in the third quarter valued at about $25,588,000. Parnassus Investments LLC grew its position in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after acquiring an additional 131,319 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Generate Investment Management Ltd bought a new stake in shares of Cloudflare during the fourth quarter worth about $12,946,000. Finally, Los Angeles Capital Management LLC grew its holdings in shares of Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock worth $22,716,000 after purchasing an additional 116,130 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $27,790,303.10. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $19,489,020.12. The trade was a 12.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 638,046 shares of company stock worth $81,243,344 in the last three months. Company insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on NET shares. The Goldman Sachs Group lifted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. Mizuho increased their price objective on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, Robert W. Baird restated a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.28.

Cloudflare Stock Performance

Shares of NET opened at $142.88 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a 50-day moving average of $133.31 and a 200-day moving average of $105.77. The company has a market cap of $49.04 billion, a PE ratio of -649.45 and a beta of 1.12. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS 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.