Cloudflare, Inc. (NYSE:NET) Shares Sold by AFG Fiduciary Services Limited Partnership

AFG Fiduciary Services Limited Partnership decreased its stake in Cloudflare, Inc. (NYSE:NET) by 19.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,010 shares of the company’s stock after selling 2,481 shares during the quarter. Cloudflare makes up 0.3% of AFG Fiduciary Services Limited Partnership’s holdings, making the stock its 26th biggest position. AFG Fiduciary Services Limited Partnership’s holdings in Cloudflare were worth $1,146,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Marshall Wace LLP raised its position in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after buying an additional 855,334 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the last quarter. Swiss National Bank grew its position in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after purchasing an additional 10,100 shares in the last quarter. Finally, National Pension Service grew its holdings in Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $119.81 on Wednesday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $121.02. The firm’s 50 day moving average price is $108.20 and its 200 day moving average price is $91.77. 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 announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity

In other news, CFO Thomas J. Seifert sold 31,136 shares of Cloudflare stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,369,566.90. The trade was a 10.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 589,852 shares of company stock worth $63,169,052. 12.83% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NET has been the subject of several analyst reports. Morgan Stanley increased their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday. Royal Bank of Canada raised their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and upped their price target for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. BNP Paribas initiated coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Finally, Piper Sandler upped their target price on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $108.32.

Cloudflare Company 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.