Asset Management One Co. Ltd. Reduces Holdings in Cloudflare, Inc. (NYSE:NET)

Asset Management One Co. Ltd. lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 230,307 shares of the company’s stock after selling 8,103 shares during the period. Asset Management One Co. Ltd.’s holdings in Cloudflare were worth $25,474,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Hartline Investment Corp lifted its position in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the 3rd quarter valued at $25,588,000. Charles Schwab Investment Management Inc. lifted its position in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service lifted its position in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares during the last quarter. Finally, Strategic Blueprint LLC purchased a new position in shares of Cloudflare during the 4th quarter valued at $265,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $24,030,141.07. This represents a 10.17 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,216,106. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 528,970 shares of company stock worth $59,959,801 in the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $170.98 on Friday. The firm has a market capitalization of $58.68 billion, a PE ratio of -777.19 and a beta of 1.12. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The business’s 50-day moving average price is $125.30 and its 200-day moving average price is $100.14. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NET. JPMorgan Chase & Co. increased their price objective on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Truist Financial increased their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Scotiabank increased their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus increased their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Piper Sandler increased their price objective on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $135.28.

Cloudflare Company 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.