Cloudflare, Inc. (NYSE:NET) Shares Sold by Clear Harbor Asset Management LLC

Clear Harbor Asset Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,717 shares of the company’s stock after selling 265 shares during the quarter. Clear Harbor Asset Management LLC’s holdings in Cloudflare were worth $2,662,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC lifted its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares during the last quarter. Quarry LP grew its holdings in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare during the third quarter worth about $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Finally, Versant Capital Management Inc boosted its position in shares of 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 purchasing an additional 170 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on NET. Piper Sandler lifted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research report on Friday. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and upped their price objective for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $107.00.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the completion of the sale, the insider now owns 185,386 shares in the company, valued at approximately $16,425,199.60. The trade was a 1.59 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the completion of the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $24,422,966.37. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,852 shares of company stock valued at $55,386,256. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Up 2.0 %

Shares of NYSE NET opened at $117.13 on Tuesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a 50-day simple moving average of $108.20 and a 200-day simple moving average of $91.77. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $121.02.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current 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.