Aspiriant LLC Has $413,000 Stake in Cloudflare, Inc. (NYSE:NET)

Aspiriant LLC reduced its stake in shares of Cloudflare, Inc. (NYSE:NET) by 44.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,835 shares of the company’s stock after selling 3,076 shares during the quarter. Aspiriant LLC’s holdings in Cloudflare were worth $413,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Crossmark Global Holdings Inc. acquired a new position in Cloudflare during the fourth quarter valued at approximately $259,000. Wealth Management Partners LLC boosted its position in shares of Cloudflare by 3.3% during the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after purchasing an additional 114 shares in the last quarter. Diversify Wealth Management LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $287,000. LVW Advisors LLC increased its position in shares of Cloudflare by 14.4% in the 4th quarter. LVW Advisors LLC now owns 6,668 shares of the company’s stock valued at $718,000 after buying an additional 839 shares in the last quarter. Finally, Oak Ridge Investments LLC acquired a new stake in Cloudflare during the 4th quarter worth $4,913,000. 82.68% of the stock is owned by institutional investors.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the transaction, the director now directly owns 5,927 shares of the company’s stock, valued at $521,576. This represents a 53.70 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $16,425,199.60. This represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 589,852 shares of company stock valued at $63,169,052 in the last quarter. 12.83% of the stock is currently owned by insiders.

Cloudflare Stock Up 2.3 %

Shares of NET stock opened at $119.81 on Wednesday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $121.02. The stock has a market cap of $41.12 billion, a price-to-earnings ratio of -460.81 and a beta of 1.10. The firm’s 50-day moving average is $108.20 and its 200-day moving average is $91.77. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data 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 firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

NET has been the subject of several recent analyst reports. Cantor Fitzgerald assumed coverage on Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target for the company. Piper Sandler increased their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Scotiabank lifted their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday. The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and increased their price objective for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Mizuho raised their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $108.32.

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.