AtonRa Partners Decreases Stake in Cloudflare, Inc. (NYSE:NET)

AtonRa Partners lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 13.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 5,832 shares of the company’s stock after selling 888 shares during the quarter. AtonRa Partners’ holdings in Cloudflare were worth $486,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Deutsche Bank AG boosted its position in Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Cloudflare in the third quarter worth about $569,000. International Assets Investment Management LLC purchased a new position in Cloudflare during the 4th quarter valued at about $11,639,000. Blueshift Asset Management LLC raised its position in Cloudflare by 100.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier lifted its holdings in Cloudflare by 4.5% in the 4th quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after buying an additional 17,600 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET traded up $1.66 during trading on Monday, reaching $89.67. 3,445,282 shares of the stock traded hands, compared to its average volume of 3,714,588. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The stock has a 50-day moving average of $94.89 and a two-hundred day moving average of $82.94. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Equities research analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $110.11, for a total value of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now directly owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,046,356 shares of company stock valued at $101,906,480. 12.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on NET shares. Needham & Company LLC boosted their target price on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Susquehanna boosted their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Wells Fargo & Company raised their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Royal Bank of Canada boosted their price target on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Mizuho lowered their price objective on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $88.48.

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.