Meitav Investment House Ltd. Sells 2,160 Shares of Cloudflare, Inc. (NYSE:NET)

Meitav Investment House Ltd. trimmed its stake in Cloudflare, Inc. (NYSE:NET) by 18.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,740 shares of the company’s stock after selling 2,160 shares during the period. Meitav Investment House Ltd.’s holdings in Cloudflare were worth $1,062,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Creative Planning raised its position in shares of Cloudflare by 17.8% during the 3rd quarter. Creative Planning now owns 31,519 shares of the company’s stock valued at $2,550,000 after buying an additional 4,756 shares in the last quarter. Bleakley Financial Group LLC raised its position in Cloudflare by 9.5% during the third quarter. Bleakley Financial Group LLC now owns 3,620 shares of the company’s stock valued at $293,000 after purchasing an additional 313 shares in the last quarter. Blue Trust Inc. raised its position in Cloudflare by 224.5% during the third quarter. Blue Trust Inc. now owns 2,447 shares of the company’s stock valued at $203,000 after purchasing an additional 1,693 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Cloudflare by 8.2% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,324 shares of the company’s stock worth $188,000 after purchasing an additional 176 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 533,297 shares of company stock worth $62,604,696. Insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the company. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. UBS Group boosted their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Susquehanna increased their target price on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Needham & Company LLC reissued a “buy” rating and issued a $185.00 price target on shares of Cloudflare in a research note on Tuesday. Finally, Morgan Stanley raised their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Price Performance

Shares of NET stock opened at $160.48 on Thursday. The business’s fifty day moving average is $128.51 and its 200 day moving average is $102.19. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $55.07 billion, a price-to-earnings ratio of -729.45 and a beta of 1.12. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

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

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.