Farther Finance Advisors LLC Has $1.27 Million Stake in Cloudflare, Inc. (NYSE:NET)

Farther Finance Advisors LLC trimmed its stake in Cloudflare, Inc. (NYSE:NET) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,823 shares of the company’s stock after selling 270 shares during the period. Farther Finance Advisors LLC’s holdings in Cloudflare were worth $1,273,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quarry LP boosted its position in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter valued at about $54,000. Larson Financial Group LLC boosted its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Down 5.0 %

NET opened at $113.38 on Friday. The firm’s fifty day moving average is $136.44 and its two-hundred day moving average is $108.28. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market cap of $39.12 billion, a PE ratio of -515.35 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

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

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at approximately $59,961,421.52. This trade represents a 11.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 571,766 shares of company stock worth $73,804,307. Company insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on NET shares. UBS Group decreased their target price on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lifted their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target on the stock. in a research report on Tuesday, February 11th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Piper Sandler decreased their price objective on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday. 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $130.92.

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.