HRT Financial LP Cuts Position in Cloudflare, Inc. (NYSE:NET)

HRT Financial LP decreased its holdings in Cloudflare, Inc. (NYSE:NET – Get Rating) by 65.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 75,622 shares of the company’s stock after selling 142,918 shares during the period. HRT Financial LP’s holdings in Cloudflare were worth $3,418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of NET. Baillie Gifford & Co. grew its position in Cloudflare by 6.5% in the fourth quarter. Baillie Gifford & Co. now owns 26,335,438 shares of the company’s stock valued at $1,190,625,000 after acquiring an additional 1,610,191 shares in the last quarter. Vanguard Group Inc. grew its position in Cloudflare by 5.8% in the third quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock valued at $1,399,341,000 after acquiring an additional 1,398,081 shares in the last quarter. Sands Capital Management LLC grew its position in Cloudflare by 2.0% in the third quarter. Sands Capital Management LLC now owns 15,956,268 shares of the company’s stock valued at $882,541,000 after acquiring an additional 312,315 shares in the last quarter. First Trust Advisors LP grew its position in Cloudflare by 13.5% in the fourth quarter. First Trust Advisors LP now owns 6,350,693 shares of the company’s stock valued at $287,181,000 after acquiring an additional 755,225 shares in the last quarter. Finally, State Street Corp grew its position in Cloudflare by 5.3% in the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after acquiring an additional 278,422 shares in the last quarter. Hedge funds and other institutional investors own 69.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on NET. Guggenheim raised shares of Cloudflare from a “sell” rating to a “neutral” rating in a research report on Friday, May 5th. Loop Capital initiated coverage on shares of Cloudflare in a research report on Monday, February 6th. They issued a “hold” rating and a $52.00 price objective for the company. Credit Suisse Group decreased their price target on shares of Cloudflare from $95.00 to $75.00 in a research report on Monday, May 1st. KeyCorp decreased their price target on shares of Cloudflare from $80.00 to $61.00 in a research report on Friday, April 28th. Finally, Wells Fargo & Company decreased their price target on shares of Cloudflare from $75.00 to $55.00 in a research report on Friday, April 28th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.04.

Insider Activity at Cloudflare

In related news, General Counsel Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $60.61, for a total transaction of $181,830.00. Following the sale, the general counsel now directly owns 54,960 shares in the company, valued at $3,331,125.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $61.06, for a total value of $3,198,567.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, General Counsel Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $60.61, for a total value of $181,830.00. Following the completion of the transaction, the general counsel now directly owns 54,960 shares in the company, valued at approximately $3,331,125.60. The disclosure for this sale can be found here. Insiders have sold a total of 421,338 shares of company stock worth $24,385,996 over the last ninety days. 15.99% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

NET stock opened at $58.03 on Friday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 4.40 and a current ratio of 4.40. The stock has a market capitalization of $19.26 billion, a price-to-earnings ratio of -98.36 and a beta of 1.01. Cloudflare, Inc. has a 1 year low of $37.37 and a 1 year high of $80.99. The stock’s fifty day moving average is $55.93 and its two-hundred day moving average is $52.66.

Cloudflare (NYSE:NET – Get Rating) last posted its earnings results on Thursday, April 27th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The company had revenue of $290.18 million during the quarter, compared to the consensus estimate of $290.96 million. Cloudflare had a negative net margin of 18.05% and a negative return on equity of 25.10%. On average, research analysts predict that Cloudflare, Inc. will post -0.32 EPS for the current year.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.