National Pension Service Sells 40,743 Shares of Cloudflare, Inc. (NYSE:NET)

National Pension Service trimmed its stake in Cloudflare, Inc. (NYSE:NET) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 431,180 shares of the company’s stock after selling 40,743 shares during the period. National Pension Service’s holdings in Cloudflare were worth $46,429,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter valued at $38,000. Quarry LP grew its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Versant Capital Management Inc grew its position in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC grew its position in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the period. Finally, Quest Partners LLC bought a new stake in Cloudflare in the third quarter valued at $54,000. 82.68% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 638,046 shares of company stock worth $81,243,344 over the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NET shares. Truist Financial upped their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Stifel Nicolaus boosted their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Jefferies Financial Group boosted their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Finally, Scotiabank boosted their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. 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 presently has a consensus rating of “Hold” and an average price target of $136.28.

Cloudflare Trading Down 2.9 %

NYSE NET opened at $140.74 on Friday. The stock has a 50-day simple moving average of $132.01 and a 200 day simple moving average of $104.71. The company has a market capitalization of $48.30 billion, a PE ratio of -639.73 and a beta of 1.12. 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, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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%. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

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.