Quent Capital LLC Trims Holdings in Cloudflare, Inc. (NYSE:NET)

Quent Capital LLC reduced its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,921 shares of the company’s stock after selling 93 shares during the quarter. Quent Capital LLC’s holdings in Cloudflare were worth $207,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service boosted its stake in shares of Cloudflare by 0.9% during 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 last quarter. Finally, Strategic Blueprint LLC purchased a new position in shares of Cloudflare during the 4th quarter valued at approximately $265,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 581,354 shares of company stock valued at $64,625,120 over the last three months. Company insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of several research analyst reports. The Goldman Sachs Group raised their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Stifel Nicolaus raised their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $135.28.

Cloudflare Price Performance

Shares of NET opened at $172.78 on Thursday. The stock’s fifty day moving average is $122.83 and its 200-day moving average is $98.96. The firm has a market capitalization of $59.30 billion, a price-to-earnings ratio of -785.36 and a beta of 1.12. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $176.73. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts anticipate that Cloudflare, Inc. will post -0.04 EPS for the current year.

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.