Walleye Capital LLC Sells 16,681 Shares of Cloudflare, Inc. (NYSE:NET)

Walleye Capital LLC trimmed its holdings in Cloudflare, Inc. (NYSE:NETGet Rating) by 62.2% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 10,144 shares of the company’s stock after selling 16,681 shares during the period. Walleye Capital LLC’s holdings in Cloudflare were worth $1,214,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of NET. Dimensional Fund Advisors LP increased its holdings in Cloudflare by 3.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 163,833 shares of the company’s stock worth $21,546,000 after buying an additional 4,991 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Cloudflare by 1.6% in the 4th quarter. Principal Financial Group Inc. now owns 35,390 shares of the company’s stock worth $4,653,000 after buying an additional 567 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Cloudflare by 6.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 828,345 shares of the company’s stock worth $108,928,000 after buying an additional 47,405 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cloudflare by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 3,393,114 shares of the company’s stock worth $445,623,000 after buying an additional 256,811 shares in the last quarter. Finally, KRS Capital Management LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at about $181,000. 71.69% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

NYSE:NET opened at $58.92 on Monday. The stock’s fifty day moving average is $60.70 and its 200 day moving average is $72.20. The firm has a market capitalization of $19.22 billion, a PE ratio of -64.75 and a beta of 1.10. The company has a debt-to-equity ratio of 2.47, a quick ratio of 5.45 and a current ratio of 5.45. Cloudflare, Inc. has a fifty-two week low of $38.96 and a fifty-two week high of $221.64.

Cloudflare (NYSE:NETGet Rating) last announced its quarterly earnings data on Thursday, August 4th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.11) by ($0.07). The business had revenue of $234.52 million during the quarter, compared to the consensus estimate of $227.52 million. Cloudflare had a negative net margin of 35.66% and a negative return on equity of 23.62%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.53 earnings per share for the current year.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $65.93, for a total transaction of $3,453,677.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $65.93, for a total transaction of $3,453,677.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Paul D. Underwood sold 6,000 shares of the company’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $70.00, for a total value of $420,000.00. Following the sale, the chief accounting officer now owns 30,030 shares of the company’s stock, valued at $2,102,100. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 320,304 shares of company stock valued at $20,817,806. 15.99% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. Royal Bank of Canada boosted their price target on Cloudflare from $62.00 to $74.00 in a research note on Friday, August 5th. Guggenheim initiated coverage on Cloudflare in a research note on Friday, August 12th. They set a “neutral” rating and a $82.00 price target for the company. Wells Fargo & Company cut their price objective on Cloudflare from $60.00 to $42.00 and set an “equal weight” rating for the company in a research note on Monday, July 18th. Mizuho boosted their price objective on Cloudflare from $76.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Finally, Jefferies Financial Group cut their price objective on Cloudflare from $75.00 to $55.00 in a research note on Monday, May 23rd. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.50.

Cloudflare Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

See Also

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NETGet Rating).

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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