NTV Asset Management LLC Decreases Stake in Cloudflare, Inc. $NET
by Mitch Edgeman · The Markets DailyNTV Asset Management LLC trimmed its position in shares of Cloudflare, Inc. (NYSE:NET – Free Report) by 33.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,930 shares of the company’s stock after selling 4,412 shares during the period. NTV Asset Management LLC’s holdings in Cloudflare were worth $1,761,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in NET. Groupama Asset Managment grew its holdings in Cloudflare by 82.6% during the 3rd quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock worth $450,639,000 after acquiring an additional 950,000 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Cloudflare by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after purchasing an additional 821,684 shares in the last quarter. Rakuten Investment Management Inc. acquired a new stake in shares of Cloudflare in the 3rd quarter valued at $138,660,000. Massachusetts Financial Services Co. MA lifted its position in shares of Cloudflare by 96.3% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after purchasing an additional 639,245 shares during the last quarter. Finally, Federated Hermes Inc. grew its stake in shares of Cloudflare by 176.8% during the second quarter. Federated Hermes Inc. now owns 527,134 shares of the company’s stock worth $103,229,000 after purchasing an additional 336,679 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.
Insider Buying and Selling
In other news, CEO Matthew Prince sold 13,618 shares of the stock in a transaction that occurred on Wednesday, March 18th. The stock was sold at an average price of $227.80, for a total value of $3,102,180.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50. Following the transaction, the insider owned 34,514 shares in the company, valued at approximately $6,540,403. This trade represents a 42.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 632,901 shares of company stock valued at $120,754,306 in the last 90 days. Company insiders own 10.89% of the company’s stock.
Cloudflare Stock Performance
NYSE NET opened at $211.30 on Friday. The company has a fifty day moving average of $193.39 and a two-hundred day moving average of $202.79. The company has a market capitalization of $74.37 billion, a PE ratio of -728.58 and a beta of 1.87. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98.
Cloudflare (NYSE:NET – Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The business’s revenue was up 33.6% compared to the same quarter last year. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on NET shares. Susquehanna set a $190.00 target price on Cloudflare in a report on Thursday, February 12th. Robert W. Baird set a $260.00 price objective on Cloudflare and gave the stock an “outperform” rating in a research report on Wednesday, February 11th. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Friday, February 13th. Wells Fargo & Company raised their target price on Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Finally, Zacks Research upgraded Cloudflare from a “strong sell” rating to a “hold” rating in a research note on Friday, March 13th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus target price of $233.38.
Check Out Our Latest Analysis on Cloudflare
Cloudflare Profile
Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.
In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.