Cloudflare, Inc. (NYSE:NET) Shares Sold by Green Alpha Advisors LLC

Green Alpha Advisors LLC lowered its position in shares of Cloudflare, Inc. (NYSE:NET) by 13.0% during the fourth quarter, HoldingsChannel reports. The firm owned 9,537 shares of the company’s stock after selling 1,425 shares during the period. Green Alpha Advisors LLC’s holdings in Cloudflare were worth $1,027,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NET. Capital Market Strategies LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $647,000. Nordea Investment Management AB grew its stake in Cloudflare by 0.7% during the 4th quarter. Nordea Investment Management AB now owns 39,776 shares of the company’s stock valued at $4,307,000 after purchasing an additional 261 shares in the last quarter. Everence Capital Management Inc. purchased a new stake in Cloudflare during the 4th quarter worth approximately $803,000. GAMMA Investing LLC raised its position in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of Cloudflare by 44.9% during 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. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on NET. Wells Fargo & Company boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 7th. Mizuho boosted their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday, December 13th. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and lifted their target price for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. Finally, Jefferies Financial Group raised their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $102.30.

Insiders Place Their Bets

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Friday, October 18th. The stock was sold at an average price of $90.88, for a total value of $1,363,200.00. Following the sale, the chief financial officer now owns 281,403 shares in the company, valued at approximately $25,573,904.64. This represents a 5.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $93.95, for a total transaction of $4,921,476.80. Following the completion of the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at $1,010,995.95. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 644,620 shares of company stock valued at $66,433,687. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $112.91 on Monday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $119.42. The company’s fifty day simple moving average is $105.41 and its 200-day simple moving average is $90.40. The firm has a market cap of $38.75 billion, a PE ratio of -434.27 and a beta of 1.10. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

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.