Blue Barn Wealth LLC Has $1.20 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Blue Barn Wealth LLC reduced its holdings in Cloudflare, Inc. (NYSE:NET) by 1.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,430 shares of the company’s stock after selling 193 shares during the period. Blue Barn Wealth LLC’s holdings in Cloudflare were worth $1,201,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Cloudflare in the fourth quarter valued at about $39,000. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Cloudflare by 1,976.9% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its holdings in Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares during the period. ORG Partners LLC bought a new position in Cloudflare in the fourth quarter valued at approximately $55,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in Cloudflare by 2,422.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock worth $56,000 after purchasing an additional 848 shares during the period. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of several research reports. Sanford C. Bernstein initiated coverage on Cloudflare in a report on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target for the company. Mizuho lowered their target price on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Bank of America raised their price objective on Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a research note on Friday, May 3rd. The Goldman Sachs Group decreased their price target on Cloudflare from $89.00 to $77.00 and set a “sell” rating on the stock in a research report on Monday. Finally, KeyCorp cut their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $89.48.

Cloudflare Stock Performance

Shares of NYSE:NET traded down $1.68 during trading on Wednesday, hitting $72.45. The company’s stock had a trading volume of 3,156,811 shares, compared to its average volume of 3,954,296. Cloudflare, Inc. has a 12 month low of $45.47 and a 12 month high of $116.00. The company has a 50-day moving average of $92.69 and a 200-day moving average of $83.93. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a market cap of $24.46 billion, a price-to-earnings ratio of -139.85 and a beta of 1.15.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $99.64, for a total value of $298,920.00. Following the sale, the insider now directly owns 205,238 shares of the company’s stock, valued at $20,449,914.32. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $99.64, for a total transaction of $298,920.00. Following the completion of the sale, the insider now directly owns 205,238 shares in the company, valued at $20,449,914.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Carl Ledbetter sold 44,220 shares of Cloudflare stock in a transaction on Wednesday, February 14th. The shares were sold at an average price of $100.16, for a total value of $4,429,075.20. Following the completion of the sale, the director now owns 1,363,066 shares in the company, valued at approximately $136,524,690.56. The disclosure for this sale can be found here. Insiders have sold a total of 1,036,385 shares of company stock valued at $101,055,510 over the last quarter. 12.83% of the stock is owned by corporate 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.