Cloudflare, Inc. (NYSE:NET) Stock Holdings Trimmed by Davis Rea LTD.

Davis Rea LTD. reduced its position in Cloudflare, Inc. (NYSE:NET) by 29.0% in the fourth quarter, Holdings Channel.com reports. The firm owned 107,926 shares of the company’s stock after selling 44,130 shares during the quarter. Cloudflare makes up 5.9% of Davis Rea LTD.’s holdings, making the stock its 6th biggest holding. Davis Rea LTD.’s holdings in Cloudflare were worth $11,621,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of NET. Capital Performance Advisors LLP purchased a new stake in Cloudflare in the third quarter worth approximately $38,000. Quarry LP boosted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares in the last quarter. Quest Partners LLC bought a new position in shares of Cloudflare during the 3rd quarter valued at $54,000. Versant Capital Management Inc raised its position in 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 purchasing an additional 170 shares during the period. Finally, GAMMA Investing LLC lifted its stake in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after purchasing an additional 217 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In other Cloudflare news, COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20. Following the sale, the chief operating officer now owns 172,959 shares in the company, valued at $19,489,020.12. The trade was a 12.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $27,790,303.10. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 638,046 shares of company stock valued at $81,243,344. 12.83% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have recently commented on NET shares. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Guggenheim lifted their price target on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Scotiabank increased their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, February 7th. Finally, DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $136.28.

Cloudflare Price Performance

Shares of NYSE:NET opened at $140.74 on Friday. The company has a market capitalization of $48.30 billion, a P/E ratio of -639.73 and a beta of 1.12. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The firm’s 50 day simple moving average is $132.01 and its two-hundred day simple moving average is $104.71. 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 (NYSE:NET) last issued 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 return on equity of 5.52% and a negative net margin of 4.72%. Research analysts expect that Cloudflare, Inc. will post -0.11 EPS 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.