Cloudflare, Inc. (NYSE:NET) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 14.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,455 shares of the company’s stock after selling 592 shares during the period. OneDigital Investment Advisors LLC’s holdings in Cloudflare were worth $372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in NET. Capital World Investors boosted its holdings in shares of Cloudflare by 0.7% in the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after buying an additional 260,415 shares during the period. Geode Capital Management LLC boosted its stake in Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after acquiring an additional 68,661 shares during the period. Groupama Asset Managment acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $249,544,000. Finally, American Century Companies Inc. lifted its stake in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after buying an additional 1,017,399 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NET shares. Guggenheim increased their price objective on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Truist Financial lifted their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC decreased their target price on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Finally, Cantor Fitzgerald increased their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $134.84.

Cloudflare Stock Up 1.8 %

Shares of Cloudflare stock opened at $121.03 on Monday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The stock has a 50-day moving average price of $120.78 and a 200 day moving average price of $115.67. The company has a market cap of $41.76 billion, a P/E ratio of -550.14 and a beta of 1.59.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate 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 expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Thursday, April 17th. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20. Following the transaction, the insider now owns 413,413 shares in the company, valued at $45,074,419.39. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 496,973 shares of company stock worth $64,559,903 in the last ninety days. Corporate insiders own 12.83% of the company’s stock.

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.