Atria Wealth Solutions Inc. Has $808,000 Position in Cloudflare, Inc. (NYSE:NET)

Atria Wealth Solutions Inc. raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 26.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,502 shares of the company’s stock after purchasing an additional 1,559 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Cloudflare were worth $808,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP acquired a new stake in Cloudflare during the 3rd quarter valued at $38,000. Quarry LP raised its stake in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Versant Capital Management Inc raised its stake in 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 purchasing an additional 170 shares during the period. GAMMA Investing LLC raised its stake in 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 purchasing an additional 217 shares during the period. Finally, Quest Partners LLC acquired a new position in shares of Cloudflare in the third quarter worth $54,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Down 3.2 %

NET stock opened at $143.22 on Wednesday. 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, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a 50-day moving average of $131.29 and a two-hundred day moving average of $104.42. The stock has a market capitalization of $49.15 billion, a price-to-earnings ratio of -651.01 and a beta of 1.12.

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

Insider Activity at Cloudflare

In related news, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 533,278 shares of company stock worth $66,134,227. Company insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on NET shares. JMP Securities upped their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research note on Friday, February 7th. Piper Sandler upped their price target on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, Susquehanna upped their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $136.28.

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.