WIM INVESTMENT MANAGEMENT Ltd Has $25.55 Million Position in Cloudflare, Inc. (NYSE:NET)

WIM INVESTMENT MANAGEMENT Ltd trimmed its position in Cloudflare, Inc. (NYSE:NET) by 25.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 237,249 shares of the company’s stock after selling 79,083 shares during the period. Cloudflare accounts for approximately 8.8% of WIM INVESTMENT MANAGEMENT Ltd’s investment portfolio, making the stock its 5th biggest position. WIM INVESTMENT MANAGEMENT Ltd owned 0.07% of Cloudflare worth $25,547,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NET. Chesapeake Capital Corp IL bought a new position in Cloudflare during the 4th quarter worth $349,000. Vinva Investment Management Ltd raised its position in Cloudflare by 18.2% during the 4th quarter. Vinva Investment Management Ltd now owns 15,287 shares of the company’s stock worth $1,667,000 after purchasing an additional 2,355 shares during the last quarter. Xponance Inc. raised its position in Cloudflare by 6.1% during the 4th quarter. Xponance Inc. now owns 55,406 shares of the company’s stock worth $5,966,000 after purchasing an additional 3,210 shares during the last quarter. Intech Investment Management LLC raised its position in Cloudflare by 4.9% during the 4th quarter. Intech Investment Management LLC now owns 14,242 shares of the company’s stock worth $1,534,000 after purchasing an additional 661 shares during the last quarter. Finally, Generali Asset Management SPA SGR bought a new position in Cloudflare during the 4th quarter worth $1,133,000. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Price Performance

NET stock opened at $114.99 on Wednesday. The company has a market capitalization of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The business has a 50-day simple moving average of $136.54 and a two-hundred day simple moving average of $109.42.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. Research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. JMP Securities lifted their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Morgan Stanley started coverage on Cloudflare in a research report on Tuesday. They issued an “overweight” rating for the company. Scotiabank lifted their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Finally, Needham & Company LLC lowered their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” 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 issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $130.04.

Insider Buying and Selling at Cloudflare

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

Cloudflare Company 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.