Cloudflare, Inc. (NYSE:NET) Shares Sold by AtonRa Partners

AtonRa Partners cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 13.2% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 5,832 shares of the company’s stock after selling 888 shares during the quarter. AtonRa Partners’ holdings in Cloudflare were worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NET. Yousif Capital Management LLC increased its holdings in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after purchasing an additional 130 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after buying an additional 132 shares during the period. Quent Capital LLC raised its position in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Xponance Inc. lifted its stake in Cloudflare by 0.6% during the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company’s stock valued at $2,565,000 after acquiring an additional 224 shares during the period. Finally, Vanguard Personalized Indexing Management LLC boosted its holdings in shares of Cloudflare by 1.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock valued at $1,244,000 after acquiring an additional 239 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 1.9 %

NYSE NET traded up $1.66 during mid-day trading on Monday, hitting $89.67. The stock had a trading volume of 3,445,282 shares, compared to its average volume of 3,714,588. The firm’s 50 day moving average is $94.89 and its 200 day moving average is $82.94. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analyst Ratings Changes

NET has been the subject of a number of research reports. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Royal Bank of Canada raised their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. KeyCorp boosted their price target on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Capital One Financial started coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. Finally, Needham & Company LLC boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $88.48.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the transaction, the chief financial officer now owns 366,465 shares of the company’s stock, valued at $30,002,489.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Carl Ledbetter sold 10,031 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total value of $811,608.21. Following the completion of the sale, the director now owns 1,454,919 shares of the company’s stock, valued at approximately $117,717,496.29. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $30,002,489.55. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,046,356 shares of company stock valued at $101,906,480. 12.83% of the stock is currently owned by insiders.

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.