Cloudflare, Inc. (NYSE:NET) Position Trimmed by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lowered its stake in Cloudflare, Inc. (NYSE:NET) by 19.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,013 shares of the company’s stock after selling 1,178 shares during the period. Atria Wealth Solutions Inc.’s holdings in Cloudflare were worth $417,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its holdings in shares of Cloudflare by 9.0% during the third quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company’s stock valued at $3,588,000 after purchasing an additional 4,685 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in shares of Cloudflare by 27.0% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company’s stock worth $990,000 after acquiring an additional 3,337 shares in the last quarter. Stratos Wealth Partners LTD. acquired a new stake in shares of Cloudflare during the third quarter valued at approximately $372,000. J.W. Cole Advisors Inc. purchased a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $255,000. Finally, Forsta AP Fonden boosted its stake in Cloudflare by 0.7% in the 3rd quarter. Forsta AP Fonden now owns 57,500 shares of the company’s stock worth $3,625,000 after purchasing an additional 400 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at $25,036,551.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Carl Ledbetter sold 7,962 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $81.42, for a total value of $648,266.04. Following the sale, the director now owns 1,446,957 shares in the company, valued at $117,811,238.94. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at $25,036,551.93. The disclosure for this sale can be found here. Insiders have sold 1,044,347 shares of company stock worth $101,703,776 in the last quarter. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

Shares of NYSE NET opened at $74.29 on Tuesday. The business’s 50-day simple moving average is $93.17 and its 200-day simple moving average is $83.83. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52 week low of $44.60 and a 52 week high of $116.00. The firm has a market cap of $25.08 billion, a price-to-earnings ratio of -140.17 and a beta of 1.15.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NET. The Goldman Sachs Group cut their target price on shares of Cloudflare from $89.00 to $77.00 and set a “sell” rating on the stock in a research note on Monday. Cantor Fitzgerald reduced their price objective on Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. JPMorgan Chase & Co. decreased their price objective on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. Wells Fargo & Company reduced their price target on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday. Finally, DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Tuesday, February 13th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $90.13.

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.