Cloudflare, Inc. (NYSE:NET) Shares Sold by Highland Capital Management LLC

Highland Capital Management LLC decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 74.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 5,200 shares of the company’s stock after selling 14,935 shares during the period. Highland Capital Management LLC’s holdings in Cloudflare were worth $560,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Creative Planning grew its holdings in Cloudflare by 9.2% during the second quarter. Creative Planning now owns 26,763 shares of the company’s stock worth $2,217,000 after acquiring an additional 2,255 shares during the period. Quarry LP grew its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. B. Riley Wealth Advisors Inc. lifted its stake in shares of Cloudflare by 67.7% in the second quarter. B. Riley Wealth Advisors Inc. now owns 6,600 shares of the company’s stock valued at $547,000 after purchasing an additional 2,664 shares during the period. Sanctuary Advisors LLC purchased a new stake in Cloudflare during the second quarter worth about $906,000. Finally, SG Americas Securities LLC grew its position in Cloudflare by 45.4% during the third quarter. SG Americas Securities LLC now owns 25,940 shares of the company’s stock worth $2,098,000 after buying an additional 8,099 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. This represents a 12.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 631,257 shares of company stock valued at $68,558,258. 12.83% of the stock is currently owned by company insiders.

Cloudflare Trading Up 1.0 %

NYSE NET opened at $138.62 on Friday. The company has a market cap of $47.57 billion, a P/E ratio of -533.15 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $142.41. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a 50-day moving average of $114.40 and a 200-day moving average of $94.56.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on NET shares. 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 target for the company. Mizuho lifted their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Royal Bank of Canada upped their target price on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Truist Financial lifted their price target on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wells Fargo & Company increased their price objective 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. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and an average target price of $109.72.

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.