Whittier Trust Co. Has $65,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Whittier Trust Co. grew its holdings in Cloudflare, Inc. (NYSE:NET) by 120.5% during the fourth quarter, Holdings Channel.com reports. The firm owned 602 shares of the company’s stock after buying an additional 329 shares during the period. Whittier Trust Co.’s holdings in Cloudflare were worth $65,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Quarry LP increased its stake in Cloudflare by 38.6% in 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. Quest Partners LLC acquired a new position in shares of Cloudflare in the third quarter worth $54,000. Larson Financial Group LLC raised its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Versant Capital Management Inc boosted its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC grew its stake in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after purchasing an additional 217 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Performance

NET opened at $124.22 on Tuesday. The stock’s 50 day simple moving average is $137.01 and its 200-day simple moving average is $110.56. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $42.86 billion, a PE ratio of -564.61 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on NET. Stifel Nicolaus raised 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. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Finally, Cantor Fitzgerald raised their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $131.64.

Insiders Place Their Bets

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 566,766 shares of company stock worth $73,779,200 over the last quarter. Company insiders own 12.83% of the company’s stock.

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.