Sanctuary Advisors LLC Sells 2,023 Shares of Cloudflare, Inc. (NYSE:NET)

Sanctuary Advisors LLC cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 14.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,110 shares of the company’s stock after selling 2,023 shares during the period. Sanctuary Advisors LLC’s holdings in Cloudflare were worth $1,304,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hartline Investment Corp boosted its stake in Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after acquiring an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare in the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. boosted its stake in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares in the last quarter. National Pension Service boosted its stake in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC acquired a new stake in Cloudflare in the fourth quarter valued at approximately $265,000. 82.68% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, insider Douglas James Kramer sold 2,481 shares of the company’s 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 transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. The disclosure for this sale can be found here. Insiders sold a total of 533,278 shares of company stock worth $66,134,227 in the last 90 days. Insiders own 12.83% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Piper Sandler lifted their price objective 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. Guggenheim lifted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. The Goldman Sachs Group lifted their price objective on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Finally, Morgan Stanley lifted their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $136.28.

Cloudflare Trading Down 3.2 %

Shares of Cloudflare stock opened at $143.22 on Wednesday. The firm has a 50-day simple moving average of $131.29 and a two-hundred day simple moving average of $104.42. The company has a market cap of $49.15 billion, a P/E ratio of -651.01 and a beta of 1.12. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

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.