Sigma Planning Corp Acquires 281 Shares of Cloudflare, Inc. (NYSE:NET)

Sigma Planning Corp boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 3.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,700 shares of the company’s stock after buying an additional 281 shares during the quarter. Sigma Planning Corp’s holdings in Cloudflare were worth $724,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Handelsbanken Fonder AB increased its position in Cloudflare by 30.2% during the 4th quarter. Handelsbanken Fonder AB now owns 122,940 shares of the company’s stock valued at $10,236,000 after purchasing an additional 28,548 shares during the period. CWM LLC increased its position in Cloudflare by 5.6% during the 4th quarter. CWM LLC now owns 4,884 shares of the company’s stock valued at $407,000 after purchasing an additional 260 shares during the period. Signaturefd LLC increased its position in Cloudflare by 6.5% during the 4th quarter. Signaturefd LLC now owns 9,261 shares of the company’s stock valued at $771,000 after purchasing an additional 565 shares during the period. Powell Investment Advisors LLC acquired a new stake in Cloudflare during the 4th quarter valued at approximately $257,000. Finally, Lindbrook Capital LLC increased its position in Cloudflare by 49.5% during the 4th quarter. Lindbrook Capital LLC now owns 948 shares of the company’s stock valued at $79,000 after purchasing an additional 314 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the sale, the chief financial officer now directly owns 338,469 shares in the company, valued at approximately $29,453,572.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Carl Ledbetter sold 8,029 shares of Cloudflare stock in a transaction dated Wednesday, April 17th. The stock was sold at an average price of $90.39, for a total value of $725,741.31. Following the completion of the sale, the director now owns 1,214,830 shares of the company’s stock, valued at approximately $109,808,483.70. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the sale, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The disclosure for this sale can be found here. Insiders have sold 1,036,341 shares of company stock worth $101,013,542 in the last ninety days. Company insiders own 14.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on NET shares. KeyCorp increased their target price on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Susquehanna raised their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Finally, DZ Bank downgraded shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a research report on Tuesday, February 13th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $87.08.

Cloudflare Price Performance

Shares of NYSE:NET opened at $87.86 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The stock’s fifty day simple moving average is $95.96 and its two-hundred day simple moving average is $82.29. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

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.