Freestone Capital Holdings LLC Has $556,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Freestone Capital Holdings LLC trimmed its holdings in Cloudflare, Inc. (NYSE:NET) by 34.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,165 shares of the company’s stock after selling 2,769 shares during the period. Freestone Capital Holdings LLC’s holdings in Cloudflare were worth $556,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare in the 3rd quarter valued at approximately $25,588,000. Parnassus Investments LLC lifted its stake in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after buying an additional 131,319 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares in the last quarter. Generate Investment Management Ltd bought a new stake in shares of Cloudflare during the fourth quarter worth $12,946,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock worth $22,716,000 after acquiring an additional 116,130 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NET shares. Susquehanna upped their target price on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Truist Financial upped their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. DZ Bank lowered Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. UBS Group upped their price target on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group lifted their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $136.28.

Cloudflare Price Performance

Cloudflare stock opened at $126.57 on Friday. The firm has a market cap of $43.67 billion, a PE ratio of -575.30 and a beta of 1.27. 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’s fifty day moving average price is $135.49 and its two-hundred day moving average price is $107.04. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS 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%. As a group, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at $1,204,267.80. This represents a 82.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 623,046 shares of company stock valued at $79,594,844 in the last ninety days. 12.83% of the stock is currently owned by company insiders.

About Cloudflare

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.