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

Sigma Planning Corp increased its position in Cloudflare, Inc. (NYSE:NET) by 3.3% during the 4th quarter, Holdings Channel.com reports. The firm owned 8,700 shares of the company’s stock after purchasing an additional 281 shares during the period. Sigma Planning Corp’s holdings in Cloudflare were worth $724,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Kingswood Wealth Advisors LLC grew its stake in Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares during the period. Quent Capital LLC grew its stake in Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares during the period. CWM LLC grew its stake in Cloudflare by 3.4% in the third quarter. CWM LLC now owns 4,624 shares of the company’s stock worth $291,000 after purchasing an additional 153 shares during the period. RFG Advisory LLC grew its stake in Cloudflare by 2.9% in the third quarter. RFG Advisory LLC now owns 5,957 shares of the company’s stock worth $376,000 after purchasing an additional 166 shares during the period. Finally, Xponance Inc. grew its stake in Cloudflare by 0.6% in the third quarter. Xponance Inc. now owns 40,684 shares of the company’s stock worth $2,565,000 after purchasing an additional 224 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Cloudflare

In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $79.60, for a total value of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares in the company, valued at approximately $17,202,674.40. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total value of $238,800.00. Following the transaction, the insider now owns 216,114 shares of the company’s stock, valued at approximately $17,202,674.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,036,341 shares of company stock worth $101,013,542. 14.80% of the stock is currently owned by company insiders.

Cloudflare Trading Up 3.7 %

NYSE NET opened at $87.86 on Wednesday. The business has a 50 day simple moving average of $95.96 and a two-hundred day simple moving average of $82.29. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings results 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. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NET. JPMorgan Chase & Co. upped their price target on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. Royal Bank of Canada increased their target price on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Needham & Company LLC increased their target price on Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. Finally, Sanford C. Bernstein initiated coverage on Cloudflare in a research note on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price on the stock. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight 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 $87.08.

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.