Cloudflare, Inc. $NET Shares Sold by GraniteShares Advisors LLC

GraniteShares Advisors LLC lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 95.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 197 shares of the company’s stock after selling 3,726 shares during the quarter. GraniteShares Advisors LLC’s holdings in Cloudflare were worth $39,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Reliant Investment Partners LLC grew its position in shares of Cloudflare by 1.5% in the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock valued at $718,000 after purchasing an additional 50 shares during the period. Frank Rimerman Advisors LLC lifted its position in Cloudflare by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock worth $605,000 after buying an additional 51 shares during the period. Brown Brothers Harriman & Co. lifted its position in Cloudflare by 55.4% during the third quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company’s stock worth $34,000 after buying an additional 56 shares during the period. Silver Oak Securities Incorporated boosted its stake in Cloudflare by 5.5% in the 4th quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company’s stock worth $218,000 after buying an additional 57 shares during the last quarter. Finally, Bogart Wealth LLC grew its holdings in Cloudflare by 28.0% in the 3rd quarter. Bogart Wealth LLC now owns 270 shares of the company’s stock valued at $58,000 after buying an additional 59 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

NET stock opened at $211.30 on Monday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The stock’s 50 day moving average is $193.39 and its two-hundred day moving average is $202.59. The company has a market capitalization of $74.37 billion, a PE ratio of -728.58 and a beta of 1.87.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same quarter in the prior year, the business posted $0.19 EPS. The company’s revenue for the quarter was up 33.6% on a year-over-year basis. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent analyst reports. New Street Research set a $140.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. Scotiabank decreased their price target on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Jefferies Financial Group upped their price objective on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, February 11th. Finally, Mizuho cut their target price on Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $233.38.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 35,080 shares of the business’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the completion of the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at $6,467,578.46. The trade was a 50.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 41,557 shares of the business’s stock in a transaction that occurred on Friday, February 20th. The stock was sold at an average price of $185.04, for a total value of $7,689,707.28. Following the transaction, the chief financial officer owned 85,452 shares of the company’s stock, valued at approximately $15,812,038.08. This represents a 32.72% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 624,247 shares of company stock valued at $119,033,499 over the last quarter. Insiders own 10.89% of the company’s stock.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.