Blue Barn Wealth LLC Sells 120 Shares of Cloudflare, Inc. (NYSE:NET)

Blue Barn Wealth LLC lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,310 shares of the company’s stock after selling 120 shares during the period. Cloudflare makes up about 0.8% of Blue Barn Wealth LLC’s portfolio, making the stock its 29th biggest position. Blue Barn Wealth LLC’s holdings in Cloudflare were worth $1,541,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in shares of Cloudflare in the 3rd quarter valued at $38,000. Quarry LP raised its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC acquired a new stake in shares of Cloudflare in the third quarter valued at about $54,000. Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Cloudflare by 59.0% during 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. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NET. Jefferies Financial Group increased their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Piper Sandler raised their target price on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Guggenheim raised their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Oppenheimer cut shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 target price on shares of Cloudflare in a report on Tuesday, February 18th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $136.28.

Cloudflare Stock Performance

Cloudflare stock opened at $143.67 on Thursday. 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 $49.58 billion, a P/E ratio of -653.05 and a beta of 1.27. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The stock has a 50 day moving average of $134.50 and a 200-day moving average of $106.61.

Cloudflare (NYSE:NET) last posted 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%. On average, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $19,489,020.12. The trade was a 12.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 623,046 shares of company stock valued at $79,594,844 over the last three months. 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.