Cloudflare, Inc. (NYSE:NET) Shares Sold by AFG Fiduciary Services Limited Partnership

AFG Fiduciary Services Limited Partnership decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 19.9% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 10,010 shares of the company’s stock after selling 2,481 shares during the quarter. Cloudflare makes up approximately 0.3% of AFG Fiduciary Services Limited Partnership’s investment portfolio, making the stock its 26th largest position. AFG Fiduciary Services Limited Partnership’s holdings in Cloudflare were worth $1,146,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the period. Marshall Wace LLP raised its stake in shares of Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. Swiss National Bank increased its stake in Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after buying an additional 10,100 shares during the period. Finally, National Pension Service increased its stake in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

NYSE:NET opened at $119.81 on Wednesday. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $121.02. The firm has a 50 day simple moving average of $108.20 and a 200-day simple moving average of $91.77. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 31,136 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $30,369,566.90. This trade represents a 10.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the business’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 directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 589,852 shares of company stock valued at $63,169,052. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho lifted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Morgan Stanley upped their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday. Finally, BNP Paribas initiated coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average target price of $108.32.

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.