Moloney Securities Asset Management LLC Has $616,000 Stake in Cloudflare, Inc. (NYSE:NET)

Moloney Securities Asset Management LLC lowered its stake in Cloudflare, Inc. (NYSE:NET) by 30.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,725 shares of the company’s stock after selling 2,487 shares during the period. Moloney Securities Asset Management LLC’s holdings in Cloudflare were worth $616,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in shares of Cloudflare during the third quarter worth $25,588,000. International Assets Investment Management LLC acquired a new position in Cloudflare in the third quarter valued at approximately $147,160,000. Parnassus Investments LLC boosted its stake in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after acquiring an additional 131,319 shares during the last quarter. Geode Capital Management LLC grew its holdings in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the period. Finally, Generate Investment Management Ltd bought a new stake in shares of Cloudflare during the 4th quarter valued at $12,946,000. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. This represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 633,738 shares of company stock valued at $69,632,506. 12.83% of the stock is owned by corporate insiders.

Cloudflare Trading Up 17.9 %

Cloudflare stock opened at $166.88 on Monday. The company has a market cap of $57.27 billion, a price-to-earnings ratio of -758.52 and a beta of 1.12. The firm has a 50-day moving average of $118.89 and a 200-day moving average of $97.11. 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, Inc. has a one year low of $66.24 and a one year high of $171.38.

Cloudflare (NYSE:NET) last posted its quarterly 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%. On average, equities analysts expect that Cloudflare, Inc. will post -0.04 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. Truist Financial increased their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. UBS Group increased their price target on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday. The Goldman Sachs Group increased their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus boosted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $128.48.

Cloudflare Profile

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.