IQ EQ FUND MANAGEMENT IRELAND Ltd Sells 23,976 Shares of Cloudflare, Inc. (NYSE:NET)

IQ EQ FUND MANAGEMENT IRELAND Ltd cut its holdings in Cloudflare, Inc. (NYSE:NET) by 30.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 54,769 shares of the company’s stock after selling 23,976 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Cloudflare were worth $5,898,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Larson Financial Group LLC increased its holdings in Cloudflare by 1,988.5% in the 4th 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 raised its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC lifted its stake in 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 during the period. Finally, Sava Infond d.o.o. purchased a new stake in shares of Cloudflare during the 4th quarter valued at about $65,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Michelle Zatlyn sold 35,099 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $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. Over the last quarter, insiders sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on NET. Oppenheimer initiated coverage on shares of Cloudflare in a report on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective for the company. Needham & Company LLC lowered their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Cantor Fitzgerald raised their price target on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Morgan Stanley started coverage on Cloudflare in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, JMP Securities raised their target price on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $135.64.

Cloudflare Price Performance

NYSE:NET opened at $121.14 on Thursday. The business’s 50-day simple moving average is $137.31 and its two-hundred day simple moving average is $110.92. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The stock has a market cap of $41.80 billion, a PE ratio of -550.62 and a beta of 1.27. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.