Blue Barn Wealth LLC Trims Stake in Cloudflare, Inc. (NYSE:NET)

Blue Barn Wealth LLC trimmed its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,430 shares of the company’s stock after selling 193 shares during the quarter. Blue Barn Wealth LLC’s holdings in Cloudflare were worth $1,201,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at about $39,000. Massmutual Trust Co. FSB ADV raised its stake in Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after purchasing an additional 514 shares during the period. Livforsakringsbolaget Skandia Omsesidigt grew its stake in shares of Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after buying an additional 296 shares during the period. ORG Partners LLC acquired a new position in Cloudflare in the fourth quarter valued at approximately $55,000. Finally, Harvest Fund Management Co. Ltd increased its position in shares of Cloudflare by 2,422.9% during the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $40,351,461.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Carl Ledbetter sold 44,220 shares of the company’s stock in a transaction dated Wednesday, February 14th. The shares were sold at an average price of $100.16, for a total transaction of $4,429,075.20. Following the sale, the director now owns 1,363,066 shares of the company’s stock, valued at $136,524,690.56. The disclosure for this sale can be found here. Insiders sold a total of 1,036,385 shares of company stock valued at $101,055,510 in the last ninety days. 12.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NET shares. UBS Group dropped their target price on Cloudflare from $88.00 to $76.00 and set a “sell” rating for the company in a research report on Friday, May 3rd. Robert W. Baird lowered their price objective on Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Truist Financial lifted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. decreased their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $89.48.

Cloudflare Stock Performance

Shares of Cloudflare stock traded down $1.68 during trading on Wednesday, reaching $72.45. The company’s stock had a trading volume of 3,156,811 shares, compared to its average volume of 3,954,296. The business’s 50-day moving average price is $92.69 and its 200-day moving average price is $83.93. Cloudflare, Inc. has a 52 week low of $45.47 and a 52 week high of $116.00. The firm has a market cap of $24.46 billion, a PE ratio of -139.85 and a beta of 1.15. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share 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.