Perigon Wealth Management LLC Sells 2,456 Shares of Cloudflare, Inc. (NYSE:NET)

Perigon Wealth Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,113 shares of the company's stock after selling 2,456 shares during the quarter. Perigon Wealth Management LLC's holdings in Cloudflare were worth $1,391,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Slow Capital Inc. grew its stake in Cloudflare by 1.5% in the 4th quarter. Slow Capital Inc. now owns 53,389 shares of the company's stock valued at $5,749,000 after buying an additional 787 shares during the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of Cloudflare during the fourth quarter worth approximately $1,861,000. KBC Group NV grew its position in shares of Cloudflare by 9.2% in the fourth quarter. KBC Group NV now owns 40,655 shares of the company's stock valued at $4,378,000 after purchasing an additional 3,418 shares during the last quarter. Capital Asset Advisory Services LLC bought a new position in shares of Cloudflare during the fourth quarter worth approximately $249,000. Finally, Blue Trust Inc. lifted its holdings in Cloudflare by 35.2% during the 4th quarter. Blue Trust Inc. now owns 3,308 shares of the company's stock worth $356,000 after purchasing an additional 861 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now directly owns 192,177 shares of the company's stock, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 641,132 shares of company stock worth $69,429,058 over the last three months. 12.83% of the stock is owned by company insiders.

Cloudflare Trading Up 0.6 %

Shares of NYSE:NET traded up $0.76 during mid-day trading on Thursday, reaching $137.20. 2,958,859 shares of the company's stock were exchanged, compared to its average volume of 3,121,038. The firm has a market capitalization of $47.09 billion, a price-to-earnings ratio of -527.70 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $140.25. The business's fifty day moving average price is $113.05 and its 200-day moving average price is $93.88. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts' consensus estimates of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NET shares. Jefferies Financial Group lifted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. UBS Group boosted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Wells Fargo & Company raised their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday. Cantor Fitzgerald initiated coverage on Cloudflare in a research note on Friday, January 17th. They issued a "neutral" rating and a $111.00 price target for the company. Finally, Royal Bank of Canada raised their price objective on Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $109.72.

About Cloudflare

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.