Edmond DE Rothschild Holding S.A. Sells 523,732 Shares of Cloudflare, Inc. (NYSE:NET)

Edmond DE Rothschild Holding S.A. lessened its holdings in Cloudflare, Inc. (NYSE:NET) by 100.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 238 shares of the company’s stock after selling 523,732 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in Cloudflare were worth $26,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP increased its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Finally, Whittier Trust Co. grew its position in Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after acquiring an additional 329 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group cut their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Needham & Company LLC reduced their target price on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and raised their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Cantor Fitzgerald upped their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $135.64.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 627,046 shares of company stock valued at $81,158,262. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $119.85 on Thursday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a fifty day simple moving average of $137.24 and a two-hundred day simple moving average of $112.34. The company has a market capitalization of $41.36 billion, a P/E ratio of -544.77 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.