TrueMark Investments LLC Sells 1,948 Shares of Cloudflare, Inc. (NYSE:NET)

TrueMark Investments LLC reduced its stake in shares of Cloudflare, Inc. (NYSE:NET) by 7.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 23,637 shares of the company’s stock after selling 1,948 shares during the quarter. TrueMark Investments LLC’s holdings in Cloudflare were worth $2,545,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Quarry LP raised its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter valued at approximately $54,000. Larson Financial Group LLC lifted its stake in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc grew its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its holdings 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 acquiring an additional 217 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other news, insider Douglas James Kramer sold 2,481 shares of the business’s 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. The trade was a 1.39 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total transaction of $5,957,632.32. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 566,766 shares of company stock valued at $73,779,200. 12.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on NET. Mizuho decreased their price target on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Susquehanna raised their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group cut their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Wells Fargo & Company raised their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $135.64.

Cloudflare Trading Up 2.6 %

Shares of Cloudflare stock opened at $127.16 on Wednesday. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market capitalization of $43.88 billion, a P/E ratio of -578.00 and a beta of 1.27. The company has a 50-day simple moving average of $137.01 and a 200 day simple moving average of $110.56. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its quarterly 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 net margin of 4.72% and a negative return on equity of 5.52%. Research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal 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.