Cloudflare, Inc. (NYSE:NET) Shares Sold by Sigma Planning Corp

Sigma Planning Corp cut its position in Cloudflare, Inc. (NYSE:NET) by 59.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,612 shares of the company’s stock after selling 3,813 shares during the quarter. Sigma Planning Corp’s holdings in Cloudflare were worth $281,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in shares of Cloudflare by 21.1% in the third quarter. Assenagon Asset Management S.A. now owns 3,455 shares of the company’s stock worth $279,000 after acquiring an additional 602 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in shares of Cloudflare by 20.7% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 25,014 shares of the company’s stock worth $2,023,000 after acquiring an additional 4,298 shares in the last quarter. Pallas Capital Advisors LLC acquired a new position in shares of Cloudflare in the third quarter worth $248,000. Finally, abrdn plc grew its stake in Cloudflare by 30.9% during the 3rd quarter. abrdn plc now owns 76,770 shares of the company’s stock worth $6,210,000 after purchasing an additional 18,132 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Cloudflare in a research note on Tuesday, February 18th. Morgan Stanley boosted their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. The Goldman Sachs Group boosted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald boosted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $136.28.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the sale, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The shares were 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 owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 638,046 shares of company stock valued at $81,243,344 over the last three months. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Performance

Shares of NET stock opened at $145.48 on Friday. The stock’s 50-day moving average price is $132.65 and its 200 day moving average price is $104.96. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $49.93 billion, a PE ratio of -661.26 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results 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%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS 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.