GraniteShares Advisors LLC Lowers Position in Cloudflare, Inc. (NYSE:NET)

GraniteShares Advisors LLC decreased its position in Cloudflare, Inc. (NYSE:NET) by 20.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,608 shares of the company’s stock after selling 1,696 shares during the period. GraniteShares Advisors LLC’s holdings in Cloudflare were worth $550,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in NET. Moneta Group Investment Advisors LLC boosted its holdings in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after buying an additional 6,068,873 shares in the last quarter. Norges Bank purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $124,592,000. 1832 Asset Management L.P. lifted its holdings in shares of Cloudflare by 315.1% in the first quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after purchasing an additional 1,433,500 shares in the last quarter. Two Sigma Investments LP lifted its holdings in shares of Cloudflare by 215.1% in the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Cloudflare by 2.4% in the first quarter. Vanguard Group Inc. now owns 23,358,000 shares of the company’s stock valued at $2,795,953,000 after purchasing an additional 548,149 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on NET shares. KeyCorp upped their price target on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, February 9th. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target (up previously from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Mizuho reduced their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a report on Monday. Morgan Stanley upped their price target on shares of Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Finally, Wells Fargo & Company boosted their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $87.08.

Cloudflare Trading Up 0.8 %

Shares of NET stock opened at $91.04 on Wednesday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company has a 50 day moving average price of $96.84 and a 200 day moving average price of $81.55.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 277,376 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92. Following the completion of the sale, the chief operating officer now directly owns 38,545 shares in the company, valued at $3,899,597.65. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO Michelle Zatlyn sold 277,376 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $101.17, for a total value of $28,062,129.92. Following the completion of the transaction, the chief operating officer now directly owns 38,545 shares in the company, valued at $3,899,597.65. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Thursday, January 18th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now owns 243,495 shares of the company’s stock, valued at $18,926,866.35. The disclosure for this sale can be found here. Insiders sold a total of 1,070,903 shares of company stock worth $103,653,456 over the last ninety days. 14.80% of the stock is owned by company insiders.

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.