Mirae Asset Global Investments Co. Ltd. Sells 1,484 Shares of Cloudflare, Inc. (NYSE:NET)

Mirae Asset Global Investments Co. Ltd. lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 3.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,793 shares of the company’s stock after selling 1,484 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Cloudflare were worth $3,313,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in NET. Kingswood Wealth Advisors LLC grew its position in shares of Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after buying an additional 132 shares during the last quarter. Quent Capital LLC boosted its holdings in Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock valued at $156,000 after acquiring an additional 140 shares during the last quarter. CWM LLC increased its position in Cloudflare by 3.4% during the 3rd quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after purchasing an additional 153 shares during the period. RFG Advisory LLC raised its holdings in Cloudflare by 2.9% during the 3rd quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after purchasing an additional 166 shares during the last quarter. Finally, Xponance Inc. lifted its position in shares of Cloudflare by 0.6% in the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the sale, the chief executive officer now owns 12,183 shares in the company, valued at $1,152,389.97. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $30,002,489.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,055,903 shares of company stock worth $102,487,506. Corporate insiders own 14.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NET. Morgan Stanley increased their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a report on Wednesday. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Susquehanna upped their target price on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada raised their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $87.08.

Cloudflare Price Performance

NET stock opened at $88.05 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The business has a 50-day simple moving average of $96.93 and a two-hundred day simple moving average of $81.59. The company has a market capitalization of $29.73 billion, a P/E ratio of -160.09 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00.

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

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.