Rakuten Securities Inc. Sells 287 Shares of Cloudflare, Inc. (NYSE:NET)

Rakuten Securities Inc. reduced its holdings in Cloudflare, Inc. (NYSE:NET) by 25.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 858 shares of the company’s stock after selling 287 shares during the period. Rakuten Securities Inc.’s holdings in Cloudflare were worth $92,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Quarry LP increased its position in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Quest Partners LLC bought a new position in Cloudflare in the 3rd quarter worth approximately $54,000. Larson Financial Group LLC grew its holdings in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares in the last quarter. Versant Capital Management Inc grew its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent research reports. Needham & Company LLC reissued a “buy” rating and set a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. UBS Group lifted their price objective on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Susquehanna lifted their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Royal Bank of Canada lifted their price objective on Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Price Performance

Cloudflare stock opened at $119.18 on Thursday. The firm has a market cap of $41.13 billion, a P/E ratio of -541.73 and a beta of 1.27. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business’s fifty day moving average is $136.21 and its two-hundred day moving average is $108.20.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the sale, the chief executive officer now owns 413,413 shares in the company, valued at $59,961,421.52. The trade was a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16. The disclosure for this sale can be found here. Insiders sold a total of 571,766 shares of company stock worth $73,804,307 over the last 90 days. 12.83% of the stock is owned by insiders.

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.