Alberta Investment Management Corp Has $16.52 Million Stake in Cloudflare, Inc. (NYSE:NET)

Alberta Investment Management Corp trimmed its holdings in Cloudflare, Inc. (NYSE:NET) by 25.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 153,405 shares of the company’s stock after selling 51,500 shares during the period. Alberta Investment Management Corp’s holdings in Cloudflare were worth $16,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after buying an additional 29,960 shares in the last quarter. Swiss National Bank grew its holdings in shares of Cloudflare by 1.1% during the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying an additional 10,100 shares in the last quarter. Peregrine Capital Management LLC grew its holdings in shares of Cloudflare by 0.4% during the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after buying an additional 2,483 shares in the last quarter. Finally, National Pension Service grew its holdings in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $27,790,303.10. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the transaction, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,216,106. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 500,335 shares of company stock valued at $57,238,617. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Down 1.6 %

NYSE:NET opened at $168.45 on Wednesday. The stock has a 50 day simple moving average of $126.45 and a 200 day simple moving average of $101.15. 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 1-year low of $66.24 and a 1-year high of $177.37.

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

Wall Street Analysts Forecast Growth

A number of research 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. The Goldman Sachs Group increased their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Piper Sandler increased their price objective on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Robert W. Baird reissued a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $136.28.

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.