Advisory Resource Group Decreases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Advisory Resource Group cut its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 23.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,703 shares of the company's stock after selling 2,908 shares during the quarter. Advisory Resource Group's holdings in Cloudflare were worth $1,045,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NET. Geode Capital Management LLC grew its holdings in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after acquiring an additional 121,810 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock valued at $93,656,000 after purchasing an additional 29,960 shares during the last quarter. Swiss National Bank lifted its position in Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company's stock valued at $72,283,000 after purchasing an additional 10,100 shares during the last quarter. National Pension Service raised its position in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc raised its position in shares of Cloudflare by 16.8% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock worth $42,602,000 after buying an additional 56,906 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Up 0.1 %

Shares of NET traded up $0.23 during midday trading on Wednesday, hitting $172.78. The stock had a trading volume of 3,193,030 shares, compared to its average volume of 3,910,924. The stock's 50 day moving average is $122.83 and its 200 day moving average is $98.96. The firm has a market cap of $59.30 billion, a PE ratio of -785.36 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $176.73.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, analysts forecast that Cloudflare, Inc. will post -0.04 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Robert W. Baird reaffirmed a "neutral" rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a "buy" rating in a research note on Tuesday, January 28th. Mizuho boosted their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a research note on Monday. JMP Securities boosted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, Needham & Company LLC boosted their price target on shares of Cloudflare from $110.00 to $160.00 and gave the company a "buy" rating in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $135.28.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total value of $4,665,319.04. Following the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 581,354 shares of company stock worth $64,625,120. Company insiders own 12.83% of the company's stock.

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.