Raymond James & Associates Sells 36,172 Shares of Cloudflare, Inc. (NYSE:NET)

Raymond James & Associates cut its holdings in Cloudflare, Inc. (NYSE:NET – Get Rating) by 21.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 131,928 shares of the company’s stock after selling 36,172 shares during the period. Raymond James & Associates’ holdings in Cloudflare were worth $5,964,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Quadrant Capital Group LLC grew its position in Cloudflare by 1,036.7% in the third quarter. Quadrant Capital Group LLC now owns 557 shares of the company’s stock worth $31,000 after acquiring an additional 508 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in Cloudflare during the 4th quarter valued at $31,000. Exos TFP Holdings LLC bought a new stake in Cloudflare in the third quarter worth $44,000. TCI Wealth Advisors Inc. purchased a new position in Cloudflare during the third quarter worth $46,000. Finally, U.S. Capital Wealth Advisors LLC bought a new position in Cloudflare during the fourth quarter valued at $45,000. 69.97% of the stock is currently owned by institutional investors.

Cloudflare Trading Down 0.9 %

Shares of NET stock opened at $57.99 on Monday. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 2.20. The stock’s 50-day moving average is $55.81 and its 200 day moving average is $52.45. Cloudflare, Inc. has a 1-year low of $37.37 and a 1-year high of $80.99.

Cloudflare (NYSE:NET – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The firm had revenue of $290.18 million during the quarter, compared to the consensus estimate of $290.96 million. Cloudflare had a negative net margin of 18.05% and a negative return on equity of 25.10%. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Friday, May 19th. The stock was sold at an average price of $58.83, for a total transaction of $754,200.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Michelle Zatlyn sold 12,820 shares of the company’s stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $58.83, for a total transaction of $754,200.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 20,000 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $60.25, for a total transaction of $1,205,000.00. Following the completion of the transaction, the chief financial officer now directly owns 61,355 shares of the company’s stock, valued at $3,696,638.75. The disclosure for this sale can be found here. Over the last three months, insiders have sold 299,670 shares of company stock valued at $17,475,387. 15.99% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NET shares. KeyCorp dropped their price target on shares of Cloudflare from $80.00 to $61.00 in a research note on Friday, April 28th. Cantor Fitzgerald cut their target price on Cloudflare from $65.00 to $50.00 in a research note on Friday, April 28th. Stifel Nicolaus decreased their price target on Cloudflare from $65.00 to $55.00 in a research note on Friday, April 28th. The Goldman Sachs Group assumed coverage on Cloudflare in a research report on Tuesday, February 14th. They issued a “sell” rating and a $51.00 price objective on the stock. Finally, William Blair reiterated an “outperform” rating on shares of Cloudflare in a research report on Wednesday, April 19th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $61.04.

About Cloudflare

(Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.