Cloudflare, Inc. (NYSE:NET) Shares Sold by Lountzis Asset Management LLC

Lountzis Asset Management LLC trimmed its stake in Cloudflare, Inc. (NYSE:NET) by 2.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 28,992 shares of the company’s stock after selling 671 shares during the period. Cloudflare comprises 1.3% of Lountzis Asset Management LLC’s investment portfolio, making the stock its 17th biggest holding. Lountzis Asset Management LLC’s holdings in Cloudflare were worth $3,122,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NET. Stratos Wealth Partners LTD. lifted its holdings in Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock worth $709,000 after buying an additional 77 shares in the last quarter. Atomi Financial Group Inc. grew its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC lifted its holdings in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after buying an additional 105 shares during the last quarter. D.A. Davidson & CO. boosted its position in shares of Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after acquiring an additional 106 shares in the last quarter. Finally, Wealth Management Partners LLC grew its position in shares of Cloudflare by 3.3% in the 4th quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock valued at $382,000 after buying an additional 114 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other news, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $27,790,303.10. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 533,297 shares of company stock worth $62,604,696 over the last ninety days. Company insiders own 12.83% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on NET. Cantor Fitzgerald upped their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price target on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research note on Friday, February 7th. Finally, Piper Sandler boosted their target price on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus target price of $136.28.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $160.48 on Thursday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm’s 50-day simple moving average is $128.51 and its 200-day simple moving average is $102.19.

Cloudflare (NYSE:NET) last released its 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

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.