Venturi Wealth Management LLC Sells 94 Shares of Cloudflare, Inc. (NYSE:NET)

Venturi Wealth Management LLC cut its stake in Cloudflare, Inc. (NYSE:NET) by 25.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269 shares of the company’s stock after selling 94 shares during the quarter. Venturi Wealth Management LLC’s holdings in Cloudflare were worth $29,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Cloudflare in the third quarter worth approximately $38,000. Quarry LP lifted its holdings 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 buying an additional 133 shares during the period. Versant Capital Management Inc boosted its stake in shares of 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 during the last quarter. GAMMA Investing LLC grew its holdings in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. Finally, Quest Partners LLC purchased a new stake in Cloudflare during the third quarter valued at $54,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

NET stock opened at $143.22 on Wednesday. The stock has a market cap of $49.15 billion, a PE ratio of -651.01 and a beta of 1.12. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a 50-day moving average price of $131.29 and a 200 day moving average price of $104.42. 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 released its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. UBS Group boosted their price target on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Guggenheim boosted their price target on Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a report on Friday, February 7th. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, The Goldman Sachs Group boosted their price target on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average target price of $136.28.

Insider Activity at Cloudflare

In other news, insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 533,278 shares of company stock worth $66,134,227 in the last 90 days. 12.83% of the stock is owned by corporate 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.