Advisory Resource Group Lowers Stock Position in Cloudflare, Inc. (NYSE:NET)

Advisory Resource Group trimmed its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 23.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,703 shares of the company’s stock after selling 2,908 shares during the quarter. Advisory Resource Group’s holdings in Cloudflare were worth $1,045,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of NET. CVA Family Office LLC increased its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Capital Performance Advisors LLP purchased a new position in Cloudflare in the third quarter valued at about $38,000. Quarry LP raised its holdings in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC grew its position in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $166.88 on Friday. The stock has a fifty day simple moving average of $118.89 and a two-hundred day simple moving average of $96.85. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $171.38.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. Analysts predict that Cloudflare, Inc. will post -0.04 EPS for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $89.06, for a total transaction of $4,665,319.04. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $17,115,283.62. This represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 633,738 shares of company stock worth $69,632,506. 12.83% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NET shares. JMP Securities lifted their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday. UBS Group upped their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Morgan Stanley raised their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $128.48.

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.