Atria Wealth Solutions Inc. Purchases 1,559 Shares of Cloudflare, Inc. (NYSE:NET)

Atria Wealth Solutions Inc. lifted its position in Cloudflare, Inc. (NYSE:NET) by 26.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 7,502 shares of the company’s stock after purchasing an additional 1,559 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Cloudflare were worth $808,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in NET. Capital Performance Advisors LLP bought a new stake in shares of Cloudflare in the 3rd quarter worth about $38,000. Quarry LP grew its holdings in shares of Cloudflare by 38.6% in 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 position in Cloudflare during the 3rd quarter worth about $54,000. Versant Capital Management Inc lifted its position in 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 buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

NYSE NET opened at $143.22 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market cap of $49.15 billion, a price-to-earnings ratio of -651.01 and a beta of 1.12. The business has a 50 day simple moving average of $131.29 and a 200 day simple moving average of $104.42. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

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

Insiders Place Their Bets

In other Cloudflare 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 sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the completion of the sale, the chief executive officer now owns 10,762 shares in the company, valued at $1,204,267.80. This trade represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 533,278 shares of company stock worth $66,134,227. Company insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NET. Wells Fargo & Company upped their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Robert W. Baird reiterated a “neutral” rating and set a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Jefferies Financial Group upped their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Finally, Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently 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.