SWS Partners Has $2.96 Million Position in Cloudflare, Inc. (NYSE:NET)

SWS Partners cut its holdings in Cloudflare, Inc. (NYSE:NET) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,515 shares of the company’s stock after selling 1,942 shares during the quarter. SWS Partners’ holdings in Cloudflare were worth $2,963,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ring Mountain Capital LLC bought a new stake in shares of Cloudflare during the 4th quarter worth about $1,435,000. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 5.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after purchasing an additional 63,945 shares during the period. Keystone Wealth Services LLC grew its holdings in Cloudflare by 13.0% during the fourth quarter. Keystone Wealth Services LLC now owns 9,348 shares of the company’s stock valued at $1,007,000 after purchasing an additional 1,075 shares during the last quarter. LGT Group Foundation raised its position in shares of Cloudflare by 47.7% in the fourth quarter. LGT Group Foundation now owns 61,745 shares of the company’s stock valued at $6,649,000 after purchasing an additional 19,952 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Cloudflare in the fourth quarter worth $1,154,000. 82.68% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 638,046 shares of company stock valued at $81,243,344. 12.83% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

NET has been the topic of a number of research analyst reports. Morgan Stanley raised their target price on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price target on shares of Cloudflare in a research report on Tuesday, February 18th. Royal Bank of Canada boosted their price objective on Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $136.28.

Cloudflare Price Performance

Shares of NET stock opened at $142.88 on Tuesday. The stock’s fifty day simple moving average is $133.31 and its 200 day simple moving average is $105.77. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The firm has a market cap of $49.04 billion, a price-to-earnings ratio of -649.45 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.