Householder Group Estate & Retirement Specialist LLC Cuts Holdings in Cloudflare, Inc. (NYSE:NET)

Householder Group Estate & Retirement Specialist LLC lessened its position in shares of Cloudflare, Inc. (NYSE:NET) by 57.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,520 shares of the company’s stock after selling 2,011 shares during the period. Householder Group Estate & Retirement Specialist LLC’s holdings in Cloudflare were worth $163,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares during the period. Marshall Wace LLP grew its stake in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares in the last quarter. Swiss National Bank raised its holdings in shares of Cloudflare by 1.1% during the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after buying an additional 10,100 shares during the period. Finally, National Pension Service raised its stake in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,779,020.89. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $113.73, for a total value of $5,957,632.32. Following the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,223,962.26. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 524,852 shares of company stock worth $55,386,256 in the last ninety days. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Trading Up 2.0 %

Shares of NYSE:NET opened at $117.13 on Friday. The company has a 50 day moving average of $107.72 and a 200-day moving average of $91.45. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market cap of $40.20 billion, a P/E ratio of -450.49 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $121.02.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. As a group, analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NET. Wells Fargo & Company upped their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada increased their price target on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the company from $95.00 to $145.00 in a research note on Friday. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $106.15.

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.