SWS Partners Sells 1,942 Shares of Cloudflare, Inc. (NYSE:NET)

SWS Partners cut its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,515 shares of the company's stock after selling 1,942 shares during the quarter. SWS Partners' holdings in Cloudflare were worth $2,963,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Stratos Wealth Partners LTD. grew its stake in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. boosted its holdings in shares of Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock worth $319,000 after acquiring an additional 94 shares during the period. Chicago Partners Investment Group LLC grew its position in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after purchasing an additional 105 shares in the last quarter. D.A. Davidson & CO. raised its stake in shares of Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company's stock valued at $2,269,000 after purchasing an additional 106 shares during the period. Finally, Amalgamated Bank lifted its holdings in Cloudflare by 0.5% during the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company's stock worth $2,154,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Remove Ads

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the firm's stock in a transaction 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 completion of the transaction, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,204,267.80. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 623,046 shares of company stock worth $79,594,844 over the last three months. Company insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NET shares. Needham & Company LLC reaffirmed a "buy" rating and set a $185.00 target price on shares of Cloudflare in a report on Tuesday, February 18th. Baird R W cut shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Scotiabank raised their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, January 21st. Jefferies Financial Group boosted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a research report on Thursday, December 19th. Finally, Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and a consensus target price of $136.28.

Cloudflare Trading Down 3.4 %

Shares of NET stock traded down $4.46 during trading hours on Friday, reaching $126.57. The company's stock had a trading volume of 5,754,004 shares, compared to its average volume of 2,982,040. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The stock has a market capitalization of $43.67 billion, a P/E ratio of -575.30 and a beta of 1.27. The firm's fifty day simple moving average is $135.49 and its 200 day simple moving average is $107.04.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly 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%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current 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.