Cloudflare, Inc. (NYSE:NET) Shares Sold by SlateStone Wealth LLC

SlateStone Wealth LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 75.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,987 shares of the company's stock after selling 12,290 shares during the period. SlateStone Wealth LLC's holdings in Cloudflare were worth $332,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Kingswood Wealth Advisors LLC boosted its position in Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company's stock valued at $2,278,000 after buying an additional 132 shares during the last quarter. Quent Capital LLC boosted its position in Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company's stock valued at $156,000 after buying an additional 140 shares during the last quarter. CWM LLC boosted its position in Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company's stock valued at $291,000 after buying an additional 153 shares during the last quarter. RFG Advisory LLC boosted its position in Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company's stock valued at $376,000 after buying an additional 166 shares during the last quarter. Finally, Xponance Inc. boosted its position in Cloudflare by 0.6% in the third quarter. Xponance Inc. now owns 40,684 shares of the company's stock valued at $2,565,000 after buying an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other news, COO Michelle Zatlyn sold 18,955 shares of the stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.07, for a total transaction of $1,650,411.85. Following the completion of the transaction, the chief operating officer now directly owns 19,615 shares in the company, valued at approximately $1,707,878.05. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total transaction of $4,955,002.56. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,152,389.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Michelle Zatlyn sold 18,955 shares of the firm's stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $87.07, for a total value of $1,650,411.85. Following the transaction, the chief operating officer now owns 19,615 shares of the company's stock, valued at $1,707,878.05. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,044,323 shares of company stock worth $101,692,491. 14.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have commented on NET shares. JPMorgan Chase & Co. upped their price objective on Cloudflare from $53.00 to $90.00 and gave the stock a "neutral" rating in a research report on Friday, February 9th. Truist Financial upped their price objective on Cloudflare from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Friday, February 9th. JMP Securities upped their price objective on Cloudflare from $75.00 to $90.00 and gave the stock a "market outperform" rating in a research report on Wednesday, January 31st. Morgan Stanley upped their price objective on Cloudflare from $66.00 to $92.00 and gave the stock an "equal weight" rating in a research report on Monday, February 12th. Finally, Cantor Fitzgerald restated a "neutral" rating and issued a $100.00 price objective on shares of Cloudflare in a research report on Wednesday, April 17th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Cloudflare presently has an average rating of "Hold" and an average price target of $87.08.

Cloudflare Trading Up 3.7 %

Shares of NET traded up $3.17 during midday trading on Tuesday, reaching $87.86. The company had a trading volume of 2,427,821 shares, compared to its average volume of 3,788,406. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The stock has a market cap of $29.67 billion, a PE ratio of -159.74 and a beta of 1.13. The firm has a 50 day simple moving average of $95.96 and a 200-day simple moving average of $82.29. 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 (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. Research analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

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.