SWS Partners Sells 1,942 Shares of Cloudflare, Inc. (NYSE:NET)

SWS Partners decreased its position in Cloudflare, Inc. (NYSE:NET) by 6.6% during the 4th quarter, Holdings Channel.com reports. The fund owned 27,515 shares of the company’s stock after selling 1,942 shares during the quarter. SWS Partners’ holdings in Cloudflare were worth $2,963,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC acquired a new position in Cloudflare during the 4th quarter valued at about $1,435,000. Charles Schwab Investment Management Inc. raised its stake in shares of Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after buying an additional 63,945 shares during the last quarter. Keystone Wealth Services LLC lifted its holdings in Cloudflare by 13.0% in the fourth quarter. Keystone Wealth Services LLC now owns 9,348 shares of the company’s stock valued at $1,007,000 after buying an additional 1,075 shares during the period. LGT Group Foundation boosted its stake in Cloudflare by 47.7% in the fourth quarter. LGT Group Foundation now owns 61,745 shares of the company’s stock valued at $6,649,000 after acquiring an additional 19,952 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in Cloudflare during the 4th quarter worth $1,154,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Stifel Nicolaus increased their price target on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Robert W. Baird restated a “neutral” rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Wells Fargo & Company upped their price target on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Cantor Fitzgerald increased 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. Finally, Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Cloudflare in a report on Tuesday, February 18th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Down 1.7 %

NET stock opened at $142.88 on Tuesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market capitalization of $49.04 billion, a P/E ratio of -649.45 and a beta of 1.12. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The business has a 50-day moving average of $133.31 and a 200-day moving average of $105.77.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $111.90, for a total transaction of $5,861,769.60. Following the sale, the chief executive officer now owns 10,762 shares in the company, valued at approximately $1,204,267.80. This represents a 82.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 638,046 shares of company stock worth $81,243,344. 12.83% of the stock is owned by 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.