Cloudflare (NYSE:NET) Downgraded by DZ Bank to “Sell”

DZ Bank cut shares of Cloudflare (NYSE:NET) from a hold rating to a sell rating in a report issued on Tuesday morning, MarketBeat Ratings reports. They currently have $145.00 price objective on the stock.

A number of other equities analysts have also recently commented on the stock. Jefferies Financial Group lifted their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. UBS Group raised their price objective on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Stifel Nicolaus lifted their target price on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Oppenheimer lowered Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $135.28.

Cloudflare Trading Down 0.0 %

Shares of NET stock opened at $172.44 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $59.18 billion, a price-to-earnings ratio of -783.81 and a beta of 1.12. Cloudflare has a 12-month low of $66.24 and a 12-month high of $176.73. The stock’s 50-day moving average price is $121.59 and its 200-day moving average price is $98.44.

Cloudflare (NYSE:NET) last released 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 return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts predict that Cloudflare will post -0.04 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 581,354 shares of company stock worth $64,625,120 in the last three months. Corporate insiders own 12.83% of the company’s stock.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in the stock. CVA Family Office LLC boosted its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in Cloudflare during the third quarter valued at approximately $38,000. Quarry LP boosted its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC grew its holdings in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc increased its position in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. Institutional investors own 82.68% 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.