Cloudflare, Inc. (NYSE:NET) Position Reduced by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 77.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,255 shares of the company’s stock after selling 21,491 shares during the quarter. SG Americas Securities LLC’s holdings in Cloudflare were worth $521,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. bought a new position in Cloudflare during the 1st quarter valued at $29,000. JTC Employer Solutions Trustee Ltd bought a new position in Cloudflare during the 3rd quarter valued at $38,000. Providence Capital Advisors LLC boosted its stake in Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its stake in Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after acquiring an additional 514 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after acquiring an additional 848 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Cloudflare news, Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $98.51, for a total value of $677,256.25. Following the completion of the transaction, the director now directly owns 23,513 shares in the company, valued at $2,316,265.63. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,025,369 shares of company stock worth $97,520,567. Corporate insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Mizuho increased their target price on shares of Cloudflare from $73.00 to $105.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company increased their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a report on Tuesday, February 13th. JMP Securities increased their target price on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a report on Wednesday, January 31st. Finally, Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 target price (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $87.50.

Cloudflare Stock Performance

Shares of NET opened at $93.25 on Friday. The firm has a 50-day moving average price of $94.77 and a 200 day moving average price of $79.32. The firm has a market capitalization of $31.49 billion, a PE ratio of -169.54 and a beta of 1.12. 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 52-week low of $39.90 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating 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 company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Cloudflare Company 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.