WIM INVESTMENT MANAGEMENT Ltd Lowers Position in Cloudflare, Inc. (NYSE:NET)

WIM INVESTMENT MANAGEMENT Ltd reduced its position in shares of Cloudflare, Inc. (NYSE:NET) by 25.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,249 shares of the company’s stock after selling 79,083 shares during the period. Cloudflare makes up 8.8% of WIM INVESTMENT MANAGEMENT Ltd’s portfolio, making the stock its 5th biggest holding. WIM INVESTMENT MANAGEMENT Ltd’s holdings in Cloudflare were worth $25,547,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in NET. Quarry LP grew its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC grew its position in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc grew its position in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC grew its position in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares in the last quarter. Finally, Quest Partners LLC purchased a new position in Cloudflare in the third quarter worth $54,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

Shares of NYSE NET opened at $114.99 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27. The firm’s fifty day moving average is $136.54 and its two-hundred day moving average is $109.42. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on NET shares. JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Guggenheim upped their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th. Cantor Fitzgerald upped their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Mizuho cut their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $130.04.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,961,421.52. The trade was a 11.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 504,382 shares of company stock valued at $66,194,115. Company insiders own 12.83% of the company’s stock.

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.