Baillie Gifford & Co. Trims Holdings in Cloudflare, Inc. (NYSE:NET)

Baillie Gifford & Co. decreased its holdings in Cloudflare, Inc. (NYSE:NET) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,884,160 shares of the company’s stock after selling 626,432 shares during the quarter. Cloudflare comprises 2.6% of Baillie Gifford & Co.’s investment portfolio, making the stock its 12th largest holding. Baillie Gifford & Co. owned 9.29% of Cloudflare worth $3,433,286,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare in the 3rd quarter valued at $25,588,000. International Assets Investment Management LLC acquired a new position in Cloudflare in the 3rd quarter valued at $147,160,000. Parnassus Investments LLC increased its stake in Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares during the period. Geode Capital Management LLC increased its stake in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares during the period. Finally, Generate Investment Management Ltd acquired a new position in Cloudflare in the 4th quarter valued at $12,946,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on NET shares. Susquehanna boosted their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Mizuho increased their price target on shares of Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. JPMorgan Chase & Co. increased their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group increased their price target on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $135.28.

Cloudflare Price Performance

NET opened at $170.98 on Monday. The company’s 50 day simple moving average is $125.30 and its 200 day simple moving average is $100.47. 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 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%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.04 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare 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 transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the transaction, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 528,970 shares of company stock valued at $59,959,801. Insiders own 12.83% of the company’s stock.

Cloudflare 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.