Trek Financial LLC Decreases Stock Position in Cloudflare, Inc. (NYSE:NET)

Trek Financial LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 71.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,123 shares of the company’s stock after selling 57,385 shares during the period. Trek Financial LLC’s holdings in Cloudflare were worth $2,490,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in NET. Quarry LP raised its holdings in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Larson Financial Group LLC raised its stake in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc lifted its holdings in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC boosted its stake in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. Finally, Sava Infond d.o.o. purchased a new position in Cloudflare during the 4th quarter valued at about $65,000. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the firm’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the sale, the insider now owns 188,406 shares in the company, valued at $21,257,848.98. The trade was a 4.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 559,662 shares of company stock valued at $73,480,384. 12.83% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent analyst reports. Susquehanna increased their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. UBS Group reduced their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. JMP Securities increased their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Bank of America raised Cloudflare from an “underperform” rating to a “buy” rating and lifted their price objective for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Finally, Mizuho cut their price objective on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $135.64.

Cloudflare Stock Performance

Shares of NET opened at $97.39 on Monday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The business has a fifty day moving average of $136.35 and a 200 day moving average of $112.90. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market capitalization of $33.61 billion, a P/E ratio of -442.68 and a beta of 1.59.

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%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 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.