Park Avenue Securities LLC Sells 588 Shares of Cloudflare, Inc. (NYSE:NET)

Park Avenue Securities LLC cut its stake in shares of Cloudflare, Inc. (NYSE:NET) by 5.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,074 shares of the company’s stock after selling 588 shares during the quarter. Park Avenue Securities LLC’s holdings in Cloudflare were worth $1,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. CVA Family Office LLC increased its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare in the 3rd quarter worth about $38,000. Quest Partners LLC bought a new stake in Cloudflare in the 3rd quarter worth about $54,000. Finally, Versant Capital Management Inc increased its holdings in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $117.13 on Tuesday. The stock’s fifty day moving average is $108.20 and its two-hundred day moving average is $91.77. The company has a market capitalization of $40.20 billion, a PE ratio of -450.49 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $121.02.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) 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 the consensus estimate of $423.65 million. As a group, analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on NET shares. Cantor Fitzgerald started coverage on Cloudflare in a research report on Friday. They issued a “neutral” rating and a $111.00 target price on the stock. Stifel Nicolaus raised Cloudflare from a “hold” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. UBS Group boosted their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada boosted their price target on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Finally, The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $107.00.

Insiders Place Their Bets

In related 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 transaction of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares in the company, valued at $521,576. This represents a 53.70 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the company’s 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 owns 185,386 shares of the company’s stock, valued at $16,425,199.60. This trade represents a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 524,852 shares of company stock worth $55,386,256. 12.83% of the stock is currently owned by company insiders.

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.