Sequoia Financial Advisors LLC Has $393,000 Stake in Cloudflare, Inc. (NYSE:NET)

Sequoia Financial Advisors LLC raised its position in Cloudflare, Inc. (NYSE:NET) by 30.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,649 shares of the company’s stock after purchasing an additional 850 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in Cloudflare were worth $393,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Quarry LP grew its stake in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC bought a new stake in Cloudflare in the third quarter valued at approximately $54,000. Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc raised its holdings in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the firm’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 of the company’s stock, valued at $1,204,267.80. This trade represents a 82.96 % 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. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of a number of analyst reports. Guggenheim lifted their target price on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. The Goldman Sachs Group cut their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Mizuho lowered their target price on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a report on Tuesday, February 11th. 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, Cloudflare currently has an average rating of “Hold” and a consensus price target of $130.04.

Cloudflare Trading Down 0.9 %

Shares of Cloudflare stock opened at $114.99 on Wednesday. The company has a market capitalization of $39.68 billion, a P/E ratio of -522.70 and a beta of 1.27. The stock has a fifty day simple moving average of $136.54 and a 200 day simple moving average of $109.42. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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.

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.