Sequoia Financial Advisors LLC Acquires 850 Shares of Cloudflare, Inc. (NYSE:NET)

Sequoia Financial Advisors LLC lifted its stake in Cloudflare, Inc. (NYSE:NET) by 30.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,649 shares of the company’s stock after acquiring an additional 850 shares during the period. Sequoia Financial Advisors LLC’s holdings in Cloudflare were worth $393,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in NET. Quarry LP boosted its stake in 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 period. Larson Financial Group LLC lifted its holdings in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the period. GAMMA Investing LLC grew its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Finally, Quest Partners LLC bought a new stake in Cloudflare during the 3rd quarter worth approximately $54,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Trading Down 0.9 %

NYSE:NET opened at $114.99 on Wednesday. The firm has a market capitalization of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27. 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 fifty day moving average of $136.54 and a 200 day moving average of $109.42. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

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

Analysts Set New Price Targets

NET has been the subject of several analyst reports. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Tuesday, February 11th. Royal Bank of Canada reduced their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Susquehanna raised their price target on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group cut their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Four investment 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $130.04.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Friday, December 20th. The stock was sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the sale, the chief executive officer now owns 10,762 shares of the company’s stock, valued at $1,204,267.80. This trade represents a 82.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 504,382 shares of company stock worth $66,194,115. 12.83% of the stock is currently owned by company insiders.

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.