Mirae Asset Global Investments Co. Ltd. Sells 1,921 Shares of Cloudflare, Inc. (NYSE:NET)

Mirae Asset Global Investments Co. Ltd. decreased its position in Cloudflare, Inc. (NYSE:NET) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,179 shares of the company’s stock after selling 1,921 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cloudflare were worth $2,564,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NET. CVA Family Office LLC raised its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the period. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the third quarter valued at about $38,000. Quarry LP increased its stake in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Quest Partners LLC acquired a new position in shares of Cloudflare during the 3rd quarter worth about $54,000. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $17,115,283.62. The trade was a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 17.9 %

Cloudflare stock opened at $166.88 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a 50-day moving average of $118.89 and a 200-day moving average of $97.11. The company has a market cap of $57.27 billion, a price-to-earnings ratio of -758.52 and a beta of 1.12. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $171.38.

Cloudflare (NYSE:NET) last posted its quarterly 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts expect that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research reports. JMP Securities boosted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Needham & Company LLC lifted their price objective on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $128.48.

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.