Advisory Resource Group Reduces Stake in Cloudflare, Inc. (NYSE:NET)

Advisory Resource Group reduced its stake in Cloudflare, Inc. (NYSE:NET) by 23.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,703 shares of the company’s stock after selling 2,908 shares during the period. Advisory Resource Group’s holdings in Cloudflare were worth $1,045,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of NET. CVA Family Office LLC lifted its position in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 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. Quarry LP lifted its holdings in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC acquired a new stake in shares of Cloudflare in the 3rd quarter valued at about $54,000. Finally, Versant Capital Management Inc grew its stake 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 during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $166.88 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $171.38. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company’s 50-day moving average price is $118.89 and its 200 day moving average price is $96.85.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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, sell-side analysts expect that Cloudflare, Inc. will post -0.04 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total transaction of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $24,030,141.07. The trade was a 10.17 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now directly owns 192,177 shares in the company, valued at $18,370,199.43. This trade represents a 21.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 633,738 shares of company stock worth $69,632,506. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group increased their price objective on Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday. Royal Bank of Canada upped their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a report on Friday. Guggenheim increased their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday. Finally, Mizuho boosted their price target on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $128.48.

About Cloudflare

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.