Freestone Capital Holdings LLC Has $556,000 Position in Cloudflare, Inc. (NYSE:NET)

Freestone Capital Holdings LLC decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 34.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,165 shares of the company's stock after selling 2,769 shares during the quarter. Freestone Capital Holdings LLC's holdings in Cloudflare were worth $556,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NET. Capital Performance Advisors LLP acquired a new position in Cloudflare during the 3rd quarter worth $38,000. Quarry LP grew its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC bought a new stake in Cloudflare in the third quarter valued at about $54,000. Versant Capital Management Inc raised its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at $1,204,267.80. This trade represents a 82.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the business's stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 597,406 shares of company stock worth $76,705,729 in the last three months. 12.83% of the stock is currently owned by insiders.

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Cloudflare Price Performance

Cloudflare stock traded up $3.68 during midday trading on Tuesday, hitting $120.29. The company's stock had a trading volume of 5,897,995 shares, compared to its average volume of 2,997,103. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $41.51 billion, a PE ratio of -546.78 and a beta of 1.27. The stock's 50-day moving average price is $135.96 and its 200-day moving average price is $107.94.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on NET. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and upped their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. UBS Group lifted their price target on shares of Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Oppenheimer lowered shares of Cloudflare from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. Cantor Fitzgerald raised their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, Piper Sandler reaffirmed a "neutral" rating on shares of Cloudflare in a report on Monday, March 3rd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $136.28.

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.