IFM Investors Pty Ltd Trims Stock Holdings in Cloudflare, Inc. (NYSE:NET)

IFM Investors Pty Ltd reduced its position in Cloudflare, Inc. (NYSE:NETFree Report) by 6.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,915 shares of the company’s stock after selling 3,757 shares during the quarter. IFM Investors Pty Ltd’s holdings in Cloudflare were worth $4,822,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of NET. Sunbelt Securities Inc. bought a new stake in Cloudflare during the first quarter valued at approximately $29,000. Massmutual Trust Co. FSB ADV increased its position in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares during the period. JTC Employer Solutions Trustee Ltd purchased a new position in Cloudflare during the 3rd quarter valued at $38,000. Harvest Fund Management Co. Ltd boosted its holdings in shares of Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after buying an additional 848 shares in the last quarter. Finally, Fortis Group Advisors LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at $64,000. 73.14% of the stock is currently owned by institutional investors.

Insider Transactions at Cloudflare

In related news, Director Carl Ledbetter sold 9,620 shares of the firm’s stock in a transaction that occurred on Wednesday, December 27th. The stock was sold at an average price of $86.48, for a total value of $831,937.60. Following the sale, the director now directly owns 1,587,547 shares in the company, valued at approximately $137,291,064.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, COO Michelle Zatlyn sold 277,376 shares of Cloudflare stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the completion of the sale, the chief operating officer now owns 38,545 shares of the company’s stock, valued at $3,899,597.65. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 9,620 shares of Cloudflare stock in a transaction on Wednesday, December 27th. The shares were sold at an average price of $86.48, for a total value of $831,937.60. Following the sale, the director now directly owns 1,587,547 shares of the company’s stock, valued at approximately $137,291,064.56. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,079,436 shares of company stock worth $101,070,085. 14.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts have recently issued reports on NET shares. KeyCorp raised their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Capital One Financial assumed coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price on the stock. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. JMP Securities lifted their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Needham & Company LLC raised their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $87.50.

Read Our Latest Stock Report on NET

Cloudflare Price Performance

Cloudflare stock opened at $96.57 on Friday. The stock’s 50 day moving average price is $92.03 and its 200 day moving average price is $77.34. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00.

Cloudflare (NYSE:NETGet Free Report) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Equities analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current year.

Cloudflare Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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