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

Citigroup Inc. decreased its holdings in Cloudflare, Inc. (NYSE:NET – Get Rating) by 85.8% during the 4th quarter, HoldingsChannel reports. The fund owned 105,338 shares of the company’s stock after selling 639,058 shares during the quarter. Citigroup Inc.’s holdings in Cloudflare were worth $4,762,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NET. Baillie Gifford & Co. increased its holdings in Cloudflare by 6.5% in the fourth quarter. Baillie Gifford & Co. now owns 26,335,438 shares of the company’s stock valued at $1,190,625,000 after buying an additional 1,610,191 shares during the last quarter. Vanguard Group Inc. increased its holdings in Cloudflare by 5.8% in the third quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock valued at $1,399,341,000 after buying an additional 1,398,081 shares during the last quarter. Lord Abbett & CO. LLC bought a new stake in Cloudflare in the third quarter valued at about $30,111,000. Renaissance Technologies LLC increased its holdings in Cloudflare by 62.2% in the first quarter. Renaissance Technologies LLC now owns 1,339,500 shares of the company’s stock valued at $160,338,000 after buying an additional 513,800 shares during the last quarter. Finally, Sands Capital Management LLC increased its holdings in Cloudflare by 2.0% in the third quarter. Sands Capital Management LLC now owns 15,956,268 shares of the company’s stock valued at $882,541,000 after buying an additional 312,315 shares during the last quarter. 69.97% of the stock is owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction on Monday, February 27th. The shares were sold at an average price of $60.25, for a total transaction of $1,205,000.00. Following the sale, the chief financial officer now directly owns 61,355 shares of the company’s stock, valued at approximately $3,696,638.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $61.06, for a total transaction of $3,198,567.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 20,000 shares of the firm’s stock in a transaction dated Monday, February 27th. The shares were sold at an average price of $60.25, for a total value of $1,205,000.00. Following the transaction, the chief financial officer now owns 61,355 shares in the company, valued at $3,696,638.75. The disclosure for this sale can be found here. Insiders have sold a total of 299,670 shares of company stock valued at $17,475,387 in the last three months. 15.99% of the stock is currently owned by company insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $57.99 on Friday. Cloudflare, Inc. has a one year low of $37.37 and a one year high of $80.99. The stock has a fifty day moving average of $55.81 and a 200-day moving average of $52.43. The company has a market capitalization of $19.25 billion, a PE ratio of -98.29 and a beta of 1.01. The company has a debt-to-equity ratio of 2.20, a quick ratio of 4.40 and a current ratio of 4.40.

Cloudflare (NYSE:NET – Get Rating) last announced its earnings results on Thursday, April 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.02). Cloudflare had a negative net margin of 18.05% and a negative return on equity of 25.10%. The firm had revenue of $290.18 million for the quarter, compared to analyst estimates of $290.96 million. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Credit Suisse Group lowered their price objective on Cloudflare from $95.00 to $75.00 in a report on Monday, May 1st. Mizuho lowered their target price on Cloudflare from $60.00 to $49.00 in a report on Friday, April 28th. Citigroup upped their target price on Cloudflare from $50.00 to $59.00 and gave the company a “neutral” rating in a report on Monday, February 13th. JMP Securities lowered their target price on Cloudflare from $90.00 to $60.00 in a report on Friday, April 28th. Finally, Wells Fargo & Company lowered their target price on Cloudflare from $75.00 to $55.00 in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $61.04.

Cloudflare Company 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.