a16z Perennial Management L.P. Trims Stock Holdings in Cloudflare, Inc. (NYSE:NET)

a16z Perennial Management L.P. cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 85.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,040 shares of the company’s stock after selling 6,000 shares during the period. a16z Perennial Management L.P.’s holdings in Cloudflare were worth $112,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of NET. Capital Performance Advisors LLP purchased a new stake in Cloudflare during the 3rd quarter valued at approximately $38,000. Quarry LP raised its stake in shares of Cloudflare by 38.6% during 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 last quarter. Quest Partners LLC purchased a new stake in shares of Cloudflare during the third quarter worth approximately $54,000. Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC grew its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $112.68, for a total value of $2,889,115.20. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at $19,489,020.12. The trade was a 12.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at approximately $59,961,421.52. This represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 623,046 shares of company stock valued at $79,594,844. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NET. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research report on Tuesday, February 11th. Jefferies Financial Group increased their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. UBS Group lifted their price objective on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, February 7th. JMP Securities increased their target price on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Finally, Scotiabank raised their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Stock Down 1.3 %

Shares of NYSE:NET opened at $141.00 on Wednesday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $48.39 billion, a P/E ratio of -640.89 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The stock’s fifty day simple moving average is $133.93 and its 200-day simple moving average is $106.20.

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