Cloudflare, Inc. (NYSE:NET) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 71.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 9,570 shares of the company’s stock after selling 24,024 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Cloudflare were worth $1,030,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. acquired a new stake in shares of Cloudflare during the fourth quarter worth $10,296,000. Proem Advisors LLC acquired a new stake in shares of Cloudflare in the 4th quarter worth $5,384,000. Pitcairn Co. boosted its holdings in shares of Cloudflare by 73.1% in the fourth quarter. Pitcairn Co. now owns 7,267 shares of the company’s stock valued at $783,000 after acquiring an additional 3,069 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in Cloudflare during the fourth quarter worth about $9,284,000. Finally, Motley Fool Asset Management LLC lifted its position in Cloudflare by 7.9% in the fourth quarter. Motley Fool Asset Management LLC now owns 5,055 shares of the company’s stock valued at $544,000 after purchasing an additional 369 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NET has been the topic of a number of analyst reports. Wells Fargo & Company lifted their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Piper Sandler reduced their price objective on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. The Goldman Sachs Group lowered their target price on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Finally, Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.64.

Cloudflare Stock Down 9.3 %

Shares of NET opened at $97.39 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company’s fifty day moving average is $136.35 and its two-hundred day moving average is $112.43. The firm has a market cap of $33.61 billion, a PE ratio of -442.68 and a beta of 1.59. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the sale, the insider now owns 188,406 shares of the company’s stock, valued at $21,257,848.98. This represents a 4.56 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the transaction, the insider now owns 413,413 shares in the company, valued at $48,509,881.42. The trade was a 5.84 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 612,046 shares of company stock valued at $79,451,112. 12.83% of the stock is currently 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.