Souders Financial Advisors Has $450,000 Stake in Cloudflare, Inc. (NYSE:NET)

Souders Financial Advisors reduced its stake in Cloudflare, Inc. (NYSE:NET) by 16.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,182 shares of the company’s stock after selling 836 shares during the quarter. Souders Financial Advisors’ holdings in Cloudflare were worth $450,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in NET. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare during the 3rd quarter worth $25,588,000. Parnassus Investments LLC lifted its holdings in Cloudflare by 1,851.9% during the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after purchasing an additional 131,319 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Generate Investment Management Ltd purchased a new stake in Cloudflare during the 4th quarter worth about $12,946,000. Finally, Los Angeles Capital Management LLC lifted its holdings in Cloudflare by 70.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock worth $22,716,000 after purchasing an additional 116,130 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

NET opened at $143.67 on Thursday. The stock’s 50 day simple moving average is $134.50 and its 200 day simple moving average is $106.61. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm has a market cap of $49.58 billion, a price-to-earnings ratio of -653.05 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its quarterly earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction 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 directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,216,106. The trade was 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 623,046 shares of company stock worth $79,594,844. 12.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent research reports. Susquehanna increased their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. UBS Group raised their price target on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, JMP Securities raised their price target on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a 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. According to data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus target price 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.