Cloudflare, Inc. (NYSE:NET) Shares Sold by Taylor Frigon Capital Management LLC

Taylor Frigon Capital Management LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 17.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,441 shares of the company’s stock after selling 7,280 shares during the period. Cloudflare comprises 1.9% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 7th biggest holding. Taylor Frigon Capital Management LLC’s holdings in Cloudflare were worth $3,816,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC boosted its holdings 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 in the last quarter. Sequoia Financial Advisors LLC boosted its holdings 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 in the last quarter. Hennion & Walsh Asset Management Inc. boosted its holdings 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 in the last quarter. Assenagon Asset Management S.A. boosted its holdings 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Cloudflare by 88.2% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 25,100 shares of the company’s stock valued at $2,048,000 after buying an additional 11,764 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. JMP Securities upped their target price on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a report on Friday, February 7th. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Jefferies Financial Group upped their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. UBS Group upped their price target on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada upped their price target on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $136.28.

Insider Activity

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total value of $1,648,500.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $19,572,040.44. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 533,278 shares of company stock worth $66,134,227 in the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Stock Performance

Shares of NET opened at $145.13 on Thursday. The company has a 50-day simple moving average of $132.01 and a 200-day simple moving average of $104.71. 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 company has a market capitalization of $49.81 billion, a PE ratio of -659.69 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 announced its quarterly 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%. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.