Cloudflare, Inc. (NYSE:NET) Position Decreased by GraniteShares Advisors LLC

GraniteShares Advisors LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 20.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,608 shares of the company’s stock after selling 1,696 shares during the period. GraniteShares Advisors LLC’s holdings in Cloudflare were worth $550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in NET. Moneta Group Investment Advisors LLC boosted its position in shares of Cloudflare by 131,133.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares in the last quarter. Norges Bank bought a new position in shares of Cloudflare during the 4th quarter valued at about $124,592,000. 1832 Asset Management L.P. boosted its position in shares of Cloudflare by 315.1% during the 1st quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after purchasing an additional 1,433,500 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of Cloudflare by 215.1% during the 1st quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares in the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Cloudflare by 2.4% during the 1st quarter. Vanguard Group Inc. now owns 23,358,000 shares of the company’s stock valued at $2,795,953,000 after purchasing an additional 548,149 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the transaction, the chief executive officer now owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Wednesday, February 21st. The shares were sold at an average price of $94.59, for a total value of $4,955,002.56. Following the transaction, the chief executive officer now owns 12,183 shares of the company’s stock, valued at $1,152,389.97. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $77.73, for a total transaction of $1,165,950.00. Following the completion of the transaction, the chief financial officer now directly owns 243,495 shares in the company, valued at approximately $18,926,866.35. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,070,903 shares of company stock valued at $103,653,456. 14.80% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have commented on NET shares. KeyCorp raised their target price on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Needham & Company LLC raised their target price on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Morgan Stanley raised their target price on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. Susquehanna raised their target price on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Finally, Wells Fargo & Company raised their target price on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $87.08.

Cloudflare Trading Up 0.8 %

Shares of NET opened at $91.04 on Wednesday. The firm’s 50 day moving average price is $96.84 and its 200 day moving average price is $81.55. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.2 EPS 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.