Ballentine Partners LLC Sells 340 Shares of Cloudflare, Inc. (NYSE:NET)

Ballentine Partners LLC lowered its stake in Cloudflare, Inc. (NYSE:NET) by 9.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,378 shares of the company’s stock after selling 340 shares during the period. Ballentine Partners LLC’s holdings in Cloudflare were worth $364,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. Swiss National Bank raised its position in shares of Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after acquiring an additional 10,100 shares in the last quarter. National Pension Service raised its position in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Cloudflare by 0.4% during the second quarter. Dimensional Fund Advisors LP now owns 326,853 shares of the company’s stock valued at $27,070,000 after purchasing an additional 1,460 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Up 1.0 %

Shares of NET stock opened at $125.19 on Friday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $125.71. The firm has a fifty day moving average price of $110.70 and a 200-day moving average price of $92.72. The company has a market cap of $42.96 billion, a price-to-earnings ratio of -481.49 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the transaction, the chief executive officer now directly owns 192,177 shares of the company’s stock, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.60, for a total transaction of $265,800.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 641,132 shares of company stock valued at $69,429,058 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Mizuho lifted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Cantor Fitzgerald initiated coverage on shares of Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and boosted their price target for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $108.32.

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.