Privium Fund Management B.V. Sells 10,000 Shares of Cloudflare, Inc. (NYSE:NET)

Privium Fund Management B.V. lowered its position in Cloudflare, Inc. (NYSE:NET) by 14.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,000 shares of the company’s stock after selling 10,000 shares during the period. Cloudflare comprises about 1.2% of Privium Fund Management B.V.’s portfolio, making the stock its 24th largest position. Privium Fund Management B.V.’s holdings in Cloudflare were worth $4,853,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Baillie Gifford & Co. boosted its position in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Cloudflare by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after buying an additional 412,864 shares during the last quarter. Capital World Investors grew its position in Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after buying an additional 584,566 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after buying an additional 19,446 shares during the period. Finally, Marshall Wace LLP increased its holdings in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Activity at Cloudflare

In related news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now directly owns 80,183 shares of the company’s stock, valued at $6,546,941.95. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the completion of the transaction, the chief executive officer now owns 10,761 shares in the company, valued at $840,003.66. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction on Friday, August 16th. The shares were sold at an average price of $81.65, for a total transaction of $285,366.75. Following the completion of the sale, the chief accounting officer now owns 80,183 shares in the company, valued at approximately $6,546,941.95. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock worth $39,737,342 in the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Stock Down 4.6 %

Shares of NYSE NET opened at $91.25 on Friday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The business has a 50-day moving average of $84.77 and a 200-day moving average of $80.69. The firm has a market capitalization of $31.18 billion, a price-to-earnings ratio of -314.66 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $61.34 and a 12 month high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on NET shares. Wolfe Research began coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Robert W. Baird increased their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Susquehanna upped their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Finally, Cantor Fitzgerald lifted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $92.88.

Cloudflare Profile

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.