Cloudflare, Inc. (NYSE:NET) Shares Sold by Blue Barn Wealth LLC

Blue Barn Wealth LLC trimmed its holdings in Cloudflare, Inc. (NYSE:NET) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,310 shares of the company’s stock after selling 120 shares during the quarter. Cloudflare comprises approximately 0.8% of Blue Barn Wealth LLC’s portfolio, making the stock its 29th biggest position. Blue Barn Wealth LLC’s holdings in Cloudflare were worth $1,541,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare during the third quarter worth approximately $38,000. Quarry LP raised its stake in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC purchased a new stake in shares of Cloudflare during the third quarter worth approximately $54,000. Versant Capital Management Inc raised its stake in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have issued reports on NET. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Morgan Stanley increased their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Mizuho increased their price objective on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. The Goldman Sachs Group increased their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Stifel Nicolaus raised their price objective on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $136.28.

Cloudflare Stock Performance

NYSE NET opened at $143.67 on Thursday. The company has a market capitalization of $49.58 billion, a P/E ratio of -653.05 and a beta of 1.27. The company has a fifty day moving average of $134.50 and a 200-day moving average of $106.61. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. 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 quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,216,106. This trade represents a 82.96 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $19,489,020.12. This represents a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 623,046 shares of company stock worth $79,594,844. 12.83% of the stock is owned by insiders.

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.