SG Americas Securities LLC Has $1.04 Million Stake in Cloudflare, Inc. (NYSE:NET)

SG Americas Securities LLC lowered its position in Cloudflare, Inc. (NYSE:NET) by 62.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,665 shares of the company’s stock after selling 16,275 shares during the quarter. SG Americas Securities LLC’s holdings in Cloudflare were worth $1,041,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Daymark Wealth Partners LLC lifted its holdings in shares of Cloudflare by 6.0% during the fourth quarter. Daymark Wealth Partners LLC now owns 4,535 shares of the company’s stock worth $488,000 after buying an additional 257 shares in the last quarter. MCF Advisors LLC acquired a new stake in Cloudflare in the 4th quarter worth about $123,000. Atomi Financial Group Inc. boosted its holdings in Cloudflare by 3.3% in the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock valued at $319,000 after purchasing an additional 94 shares during the period. Crossmark Global Holdings Inc. acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $259,000. Finally, Wealth Management Partners LLC increased its holdings 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 during the period. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent analyst reports. Truist Financial upped their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their target price for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Wells Fargo & Company increased their price target on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Cantor Fitzgerald began coverage on shares of Cloudflare in a research report on Friday, January 17th. They set a “neutral” rating and a $111.00 price objective for the company. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $109.72.

Cloudflare Stock Up 10.3 %

Shares of NET opened at $139.54 on Wednesday. The stock’s 50-day moving average price is $112.25 and its two-hundred day moving average price is $93.58. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $140.25. The company has a market capitalization of $47.89 billion, a PE ratio of -536.69 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $24,422,966.37. The trade was a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 1.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 641,132 shares of company stock valued at $69,429,058 over the last quarter. Insiders own 12.83% of the company’s stock.

About Cloudflare

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.