Stock Yards Bank & Trust Co. Sells 2,252 Shares of Cloudflare, Inc. (NYSE:NET)

Stock Yards Bank & Trust Co. cut its stake in Cloudflare, Inc. (NYSE:NET) by 38.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,669 shares of the company’s stock after selling 2,252 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Cloudflare were worth $305,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. CWM LLC increased its position in Cloudflare by 3.4% during the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after acquiring an additional 153 shares during the period. Global Retirement Partners LLC increased its position in Cloudflare by 61.5% during the third quarter. Global Retirement Partners LLC now owns 1,525 shares of the company’s stock worth $90,000 after acquiring an additional 581 shares during the period. SG Americas Securities LLC increased its position in Cloudflare by 377.1% during the third quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock worth $1,749,000 after acquiring an additional 21,930 shares during the period. Exchange Traded Concepts LLC increased its position in Cloudflare by 5.9% during the third quarter. Exchange Traded Concepts LLC now owns 107,835 shares of the company’s stock worth $6,798,000 after acquiring an additional 6,001 shares during the period. Finally, Handelsbanken Fonder AB increased its position in Cloudflare by 0.8% during the third quarter. Handelsbanken Fonder AB now owns 94,392 shares of the company’s stock worth $5,950,000 after acquiring an additional 736 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Down 0.2 %

NYSE:NET opened at $87.68 on Thursday. The firm’s 50 day simple moving average is $95.72 and its 200 day simple moving average is $82.47. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at approximately $29,453,572.38. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,341 shares of company stock worth $101,013,542 in the last ninety days. Company insiders own 14.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on NET shares. Mizuho lowered their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. JMP Securities increased their price objective on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Susquehanna increased their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Finally, Capital One Financial started coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $87.08.

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.