Atria Wealth Solutions Inc. Decreases Stock Position in Cloudflare, Inc. (NYSE:NET)

Atria Wealth Solutions Inc. decreased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 19.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,013 shares of the company’s stock after selling 1,178 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Cloudflare were worth $417,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Cloudflare by 1.5% during the third quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after buying an additional 395,363 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Cloudflare in the 4th quarter valued at $27,288,000. QRG Capital Management Inc. purchased a new stake in shares of Cloudflare during the 3rd quarter worth $9,165,000. International Assets Investment Management LLC acquired a new position in shares of Cloudflare during the fourth quarter worth $11,639,000. Finally, California Public Employees Retirement System increased its holdings in Cloudflare by 24.9% in the third quarter. California Public Employees Retirement System now owns 523,856 shares of the company’s stock valued at $33,024,000 after buying an additional 104,517 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the sale, the chief executive officer now owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Douglas James Kramer sold 6,000 shares of the firm’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.08, for a total value of $660,480.00. Following the completion of the transaction, the insider now directly owns 216,114 shares of the company’s stock, valued at approximately $23,789,829.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The disclosure for this sale can be found here. Insiders have sold 1,044,347 shares of company stock valued at $101,703,776 over the last quarter. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent analyst reports. Piper Sandler reaffirmed a “neutral” rating and set a $81.00 price target (down from $110.00) on shares of Cloudflare in a report on Friday. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target for the company. in a report on Tuesday, February 13th. JPMorgan Chase & Co. cut their price objective on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday. Oppenheimer reduced their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Susquehanna dropped their target price on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. According to MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $90.13.

Cloudflare Stock Down 0.1 %

Shares of NYSE:NET opened at $74.29 on Tuesday. Cloudflare, Inc. has a fifty-two week low of $44.60 and a fifty-two week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm’s 50-day simple moving average is $93.17 and its 200-day simple moving average is $83.83. The company has a market cap of $25.08 billion, a price-to-earnings ratio of -140.17 and a beta of 1.15.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share 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.