Stock Yards Bank & Trust Co. Sells 2,252 Shares of Cloudflare, Inc. (NYSE:NET)

Stock Yards Bank & Trust Co. cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 38.0% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 3,669 shares of the company’s stock after selling 2,252 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Cloudflare were worth $305,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of NET. CWM LLC increased its position in shares of Cloudflare by 3.4% during the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after buying an additional 153 shares during the period. Global Retirement Partners LLC increased its position in shares of Cloudflare by 61.5% during the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock valued at $90,000 after buying an additional 581 shares during the period. SG Americas Securities LLC increased its position in shares of Cloudflare by 377.1% during the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock valued at $1,749,000 after buying an additional 21,930 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Cloudflare by 5.9% in the third quarter. Exchange Traded Concepts LLC now owns 107,835 shares of the company’s stock worth $6,798,000 after purchasing an additional 6,001 shares during the last quarter. Finally, Handelsbanken Fonder AB raised its stake in Cloudflare by 0.8% in the third quarter. Handelsbanken Fonder AB now owns 94,392 shares of the company’s stock valued at $5,950,000 after purchasing an additional 736 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on NET. DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. Morgan Stanley raised their target price on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price on the stock. Capital One Financial assumed coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 target price on the stock. Finally, KeyCorp increased their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average price target of $87.08.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total value of $1,228,050.00. Following the sale, the chief financial officer now owns 366,465 shares in the company, valued at $30,002,489.55. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the sale, the chief executive officer now owns 12,183 shares in the company, valued at $1,152,389.97. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $30,002,489.55. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,341 shares of company stock worth $101,013,542 over the last quarter. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $87.68 on Thursday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The company’s 50 day moving average price is $95.72 and its 200-day moving average price is $82.47.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping 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 firm had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Cloudflare 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.