Taylor Frigon Capital Management LLC Sells 7,280 Shares of Cloudflare, Inc. (NYSE:NET)

Taylor Frigon Capital Management LLC reduced its position in shares of Cloudflare, Inc. (NYSE:NET) by 17.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 35,441 shares of the company’s stock after selling 7,280 shares during the quarter. Cloudflare accounts for 1.9% of Taylor Frigon Capital Management LLC’s holdings, making the stock its 7th largest holding. Taylor Frigon Capital Management LLC’s holdings in Cloudflare were worth $3,816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare during the 3rd quarter worth about $38,000. Quarry LP boosted its stake in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth about $54,000. 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 worth $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Cloudflare by 59.0% during 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. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at $1,216,106. The trade was a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 533,278 shares of company stock worth $66,134,227 over the last 90 days. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 1.4 %

NET opened at $145.13 on Thursday. The firm has a market capitalization of $49.81 billion, a P/E ratio of -659.69 and a beta of 1.12. The firm’s 50 day moving average is $132.01 and its 200-day moving average is $104.71. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. 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 data 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%. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NET. The Goldman Sachs Group increased their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Guggenheim increased their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Royal Bank of Canada increased their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a report on Friday, February 7th. Finally, Robert W. Baird reiterated a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $136.28.

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.