Sanctuary Advisors LLC Reduces Holdings in Cloudflare, Inc. (NYSE:NET)

Sanctuary Advisors LLC decreased its position in Cloudflare, Inc. (NYSE:NET) by 14.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,110 shares of the company’s stock after selling 2,023 shares during the period. Sanctuary Advisors LLC’s holdings in Cloudflare were worth $1,304,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in NET. Allspring Global Investments Holdings LLC grew its stake in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after buying an additional 119 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Cloudflare by 12.1% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,799 shares of the company’s stock valued at $226,000 after buying an additional 303 shares during the period. Hennion & Walsh Asset Management Inc. grew its stake in shares of Cloudflare by 27.4% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 4,918 shares of the company’s stock valued at $398,000 after buying an additional 1,057 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of Cloudflare by 21.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,455 shares of the company’s stock valued at $279,000 after buying an additional 602 shares during the period. Finally, Ballentine Partners LLC lifted its holdings in shares of Cloudflare by 40.0% in the 3rd quarter. Ballentine Partners LLC now owns 3,718 shares of the company’s stock worth $301,000 after acquiring an additional 1,062 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated 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 transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their ownership of the stock. 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 Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total transaction of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,216,106. This represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 533,278 shares of company stock worth $66,134,227 over the last ninety days. 12.83% of the stock is owned by company insiders.

Cloudflare Price Performance

Shares of NET opened at $143.22 on Wednesday. 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 firm has a market capitalization of $49.15 billion, a price-to-earnings ratio of -651.01 and a beta of 1.12. The firm’s fifty day simple moving average is $131.29 and its 200-day simple moving average is $104.42. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Needham & Company LLC restated a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a report on Tuesday, February 11th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $136.28.

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.