NWI Management LP Sells 82,000 Shares of Cloudflare, Inc. (NYSE:NET)

NWI Management LP decreased its position in shares of Cloudflare, Inc. (NYSE:NET) by 82.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,000 shares of the company’s stock after selling 82,000 shares during the quarter. NWI Management LP’s holdings in Cloudflare were worth $1,743,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of NET. Norges Bank acquired a new position in shares of Cloudflare during the 4th quarter worth $221,858,000. 1832 Asset Management L.P. lifted its holdings in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after acquiring an additional 1,597,900 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Cloudflare by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after purchasing an additional 740,914 shares in the last quarter. Capital World Investors grew its holdings in shares of Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new position in Cloudflare during the 1st quarter worth approximately $37,740,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 0.0 %

Shares of NET stock traded up $0.02 on Friday, reaching $78.06. 1,931,743 shares of the company were exchanged, compared to its average volume of 2,356,911. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The company has a market cap of $26.52 billion, a price-to-earnings ratio of -147.28 and a beta of 1.10. The company has a 50-day moving average of $77.59 and a 200-day moving average of $85.35. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $372.93 million. Analysts anticipate that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on NET shares. Oppenheimer decreased their target price on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a research report on Tuesday, May 7th. Mizuho upped their price objective on Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Cantor Fitzgerald reiterated a “neutral” rating and set a $80.00 target price on shares of Cloudflare in a research report on Friday, June 21st. Finally, UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $90.92.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 8,022 shares of Cloudflare stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $87.49, for a total transaction of $701,844.78. Following the completion of the transaction, the director now directly owns 1,196,793 shares in the company, valued at $104,707,419.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $88.12, for a total transaction of $264,360.00. Following the transaction, the insider now directly owns 205,238 shares of the company’s stock, valued at approximately $18,085,572.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Carl Ledbetter sold 8,022 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $87.49, for a total transaction of $701,844.78. Following the transaction, the director now directly owns 1,196,793 shares in the company, valued at $104,707,419.57. The disclosure for this sale can be found here. In the last 90 days, insiders sold 714,232 shares of company stock worth $55,423,126. 12.83% of the stock is owned by corporate insiders.

About Cloudflare

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.