Strs Ohio Sells 567 Shares of Cloudflare, Inc. (NYSE:NET)

Strs Ohio lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,239 shares of the company’s stock after selling 567 shares during the quarter. Strs Ohio’s holdings in Cloudflare were worth $685,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC raised its position in shares of Cloudflare by 11.7% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 152,760 shares of the company’s stock worth $12,719,000 after acquiring an additional 16,040 shares during the last quarter. Simplicity Solutions LLC bought a new stake in Cloudflare in the fourth quarter valued at about $257,000. ORG Partners LLC bought a new stake in Cloudflare in the fourth quarter valued at about $55,000. NewEdge Wealth LLC bought a new stake in Cloudflare in the fourth quarter valued at about $232,000. Finally, Perigon Wealth Management LLC increased its holdings in Cloudflare by 72.7% in the fourth quarter. Perigon Wealth Management LLC now owns 16,299 shares of the company’s stock valued at $1,357,000 after purchasing an additional 6,861 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 1.0 %

NET stock opened at $86.76 on Friday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The business has a 50 day moving average price of $95.39 and a two-hundred day moving average price of $82.50. The company has a market cap of $29.30 billion, a price-to-earnings ratio of -157.75 and a beta of 1.12. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00.

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

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 10,015 shares of the firm’s stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total value of $892,937.40. Following the completion of the transaction, the director now directly owns 1,204,815 shares in the company, valued at $107,421,305.40. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Carl Ledbetter sold 10,015 shares of Cloudflare stock in a transaction that occurred on Wednesday, April 24th. The stock was sold at an average price of $89.16, for a total value of $892,937.40. Following the transaction, the director now owns 1,204,815 shares of the company’s stock, valued at $107,421,305.40. The disclosure for this sale can be found here. Insiders sold a total of 1,046,356 shares of company stock worth $101,906,480 over the last ninety days. 14.80% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NET. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 price objective on shares of Cloudflare in a report on Wednesday, April 17th. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a report on Tuesday, February 13th. Mizuho dropped their price objective on Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Sanford C. Bernstein assumed coverage on Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target for the company. Finally, Needham & Company LLC raised their price target on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $87.08.

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.