SVB Wealth LLC Decreases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

SVB Wealth LLC lowered its stake in shares of Cloudflare, Inc. (NYSE:NET) by 29.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,208 shares of the company’s stock after selling 1,328 shares during the period. SVB Wealth LLC’s holdings in Cloudflare were worth $267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in NET. CWM LLC lifted its holdings in shares of Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock valued at $291,000 after purchasing an additional 153 shares in the last quarter. AE Wealth Management LLC lifted its holdings in shares of Cloudflare by 7.2% in the third quarter. AE Wealth Management LLC now owns 53,137 shares of the company’s stock valued at $3,350,000 after purchasing an additional 3,583 shares in the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Cloudflare by 61.5% in the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock valued at $90,000 after purchasing an additional 581 shares in the last quarter. SG Americas Securities LLC lifted its holdings in shares of Cloudflare by 377.1% in the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock valued at $1,749,000 after purchasing an additional 21,930 shares in the last quarter. Finally, RFG Advisory LLC lifted its holdings in shares of Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock valued at $376,000 after purchasing an additional 166 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the completion of the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at approximately $30,002,489.55. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the sale, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $81.87, for a total transaction of $1,228,050.00. Following the sale, the chief financial officer now directly owns 366,465 shares of the company’s stock, valued at $30,002,489.55. The disclosure for this sale can be found here. In the last three months, insiders sold 1,044,323 shares of company stock valued at $101,692,491. Corporate insiders own 14.80% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock opened at $84.68 on Tuesday. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The firm has a fifty day moving average of $96.38 and a 200-day moving average of $82.10. The firm has a market capitalization of $28.59 billion, a P/E ratio of -153.95 and a beta of 1.13. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Ratings Changes

NET has been the topic of several recent research reports. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Morgan Stanley upped their price objective on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Capital One Financial assumed coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. Finally, DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $87.08.

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.