Cloudflare, Inc. (NYSE:NET) Shares Sold by United Advisor Group LLC

United Advisor Group LLC reduced its position in shares of Cloudflare, Inc. (NYSE:NET) by 3.7% during the fourth quarter, HoldingsChannel reports. The firm owned 12,975 shares of the company’s stock after selling 500 shares during the quarter. United Advisor Group LLC’s holdings in Cloudflare were worth $1,397,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Gordian Capital Singapore Pte Ltd bought a new stake in shares of Cloudflare in the fourth quarter worth $43,000. Larson Financial Group LLC increased its stake in Cloudflare by 1,988.5% during the fourth 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 last quarter. CoreCap Advisors LLC increased its stake in Cloudflare by 218.4% during the fourth quarter. CoreCap Advisors LLC now owns 554 shares of the company’s stock valued at $60,000 after purchasing an additional 380 shares during the last quarter. Whittier Trust Co. increased its stake in Cloudflare by 120.5% during the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. bought a new stake in Cloudflare during the fourth quarter valued at $65,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the completion of the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $54,095,091.05. This represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 9,000 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at $21,257,848.98. The trade was a 4.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 564,297 shares of company stock valued at $73,906,935. 12.83% of the stock is owned by insiders.

Cloudflare Stock Performance

NET stock opened at $158.45 on Friday. The company has a market capitalization of $54.68 billion, a P/E ratio of -720.20 and a beta of 1.78. The company has a 50-day simple moving average of $122.55 and a 200 day simple moving average of $122.32. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period in the previous year, the company posted $0.16 earnings per share. Cloudflare’s revenue was up 26.5% compared to the same quarter last year. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the subject of several recent research reports. Piper Sandler reiterated a “neutral” rating and set a $151.00 target price (up previously from $112.00) on shares of Cloudflare in a research note on Friday, May 9th. CICC Research upgraded shares of Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 target price for the company in a research note on Monday, May 12th. JMP Securities boosted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. Cantor Fitzgerald boosted their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, UBS Group boosted their price target on shares of Cloudflare from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $141.79.

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.