Souders Financial Advisors Sells 836 Shares of Cloudflare, Inc. (NYSE:NET)

Souders Financial Advisors reduced its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 16.7% during the fourth quarter, HoldingsChannel reports. The firm owned 4,182 shares of the company’s stock after selling 836 shares during the period. Souders Financial Advisors’ holdings in Cloudflare were worth $450,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of NET. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare during the third quarter valued at $25,588,000. Parnassus Investments LLC lifted its holdings in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after acquiring an additional 131,319 shares during the period. Geode Capital Management LLC lifted its holdings in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the period. Generate Investment Management Ltd bought a new position in Cloudflare in the fourth quarter valued at about $12,946,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Cloudflare by 70.5% in the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after acquiring an additional 116,130 shares during the period. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,961,421.52. The trade was a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 623,046 shares of company stock worth $79,594,844 in the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

NYSE NET opened at $143.67 on Thursday. The stock has a market capitalization of $49.58 billion, a PE ratio of -653.05 and a beta of 1.27. The business has a 50 day simple moving average of $134.50 and a two-hundred day simple moving average of $106.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on NET shares. Piper Sandler increased their target price on Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Mizuho upped their price target on Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Finally, DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $136.28.

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.