Avantax Advisory Services Inc. Sells 1,379 Shares of Cloudflare, Inc. (NYSE:NET)

Avantax Advisory Services Inc. decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 16.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,185 shares of the company’s stock after selling 1,379 shares during the period. Avantax Advisory Services Inc.’s holdings in Cloudflare were worth $774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Stratos Wealth Partners LTD. boosted its position in shares of Cloudflare by 1.2% during the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after purchasing an additional 77 shares in the last quarter. Atomi Financial Group Inc. raised its stake in Cloudflare by 3.3% during the 4th quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC raised its stake in Cloudflare by 4.3% during the 4th quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after buying an additional 105 shares during the period. D.A. Davidson & CO. raised its stake in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company’s stock worth $2,269,000 after buying an additional 106 shares during the period. Finally, Amalgamated Bank raised its stake in Cloudflare by 0.5% during the 4th quarter. Amalgamated Bank now owns 20,002 shares of the company’s stock worth $2,154,000 after buying an additional 107 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, insider Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $156.67, for a total value of $4,017,018.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $117.32, for a total value of $6,145,690.88. Following the transaction, the chief executive officer now owns 413,413 shares of the company’s stock, valued at approximately $48,501,613.16. The trade was a 11.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 556,766 shares of company stock valued at $72,579,200 over the last three months. Company insiders own 12.83% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE NET opened at $117.89 on Friday. The stock has a fifty day simple moving average of $136.61 and a two-hundred day simple moving average of $109.54. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm has a market cap of $40.68 billion, a price-to-earnings ratio of -535.85 and a beta of 1.27. 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 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 return on equity of 5.52% and a negative net margin of 4.72%. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NET shares. Stifel Nicolaus upped their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Wells Fargo & Company upped their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. JPMorgan Chase & Co. upped their price target on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Guggenheim increased their price objective on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Finally, Needham & Company LLC lowered their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, March 13th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $131.64.

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.