Assenagon Asset Management S.A. Sells 1,021 Shares of Cloudflare, Inc. (NYSE:NET)

Assenagon Asset Management S.A. decreased its holdings in Cloudflare, Inc. (NYSE:NET) by 26.4% during the 2nd quarter, Holdings Channel.com reports. The fund owned 2,853 shares of the company’s stock after selling 1,021 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Cloudflare were worth $236,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co bought a new position in Cloudflare in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Cloudflare in the 2nd quarter valued at about $29,000. Versant Capital Management Inc increased its stake in Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after buying an additional 421 shares during the last quarter. Finally, ICA Group Wealth Management LLC purchased a new stake in Cloudflare in the 4th quarter valued at about $38,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on NET. Citigroup decreased their price objective on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Mizuho increased their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Oppenheimer decreased their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, TD Cowen decreased their price target on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.29.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 7,994 shares of Cloudflare stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $72.79, for a total transaction of $581,883.26. Following the completion of the sale, the director now directly owns 1,140,665 shares of the company’s stock, valued at approximately $83,029,005.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Carl Ledbetter sold 7,994 shares of Cloudflare stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $72.79, for a total transaction of $581,883.26. Following the completion of the sale, the director now directly owns 1,140,665 shares of the company’s stock, valued at approximately $83,029,005.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Katrin Suder sold 574 shares of Cloudflare stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total transaction of $38,521.14. Following the sale, the director now directly owns 51,162 shares of the company’s stock, valued at $3,433,481.82. The disclosure for this sale can be found here. Insiders sold a total of 603,554 shares of company stock valued at $47,853,232 in the last three months. Company insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 2.2 %

Shares of NYSE:NET opened at $82.39 on Friday. The firm has a fifty day moving average price of $80.34 and a two-hundred day moving average price of $85.08. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The company has a market cap of $28.00 billion, a price-to-earnings ratio of -155.45 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.90%. The firm had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period last year, the firm earned ($0.12) EPS. The business’s quarterly revenue was up 30.0% compared to the same quarter last year. Analysts anticipate that Cloudflare, Inc. will post -0.19 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.