Oppenheimer & Co. Inc. decreased its position in Cloudflare, Inc. (NYSE:NET – Get Rating) by 16.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,991 shares of the company’s stock after selling 3,042 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cloudflare were worth $723,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Utah Retirement Systems grew its position in Cloudflare by 0.4% in the 3rd quarter. Utah Retirement Systems now owns 47,762 shares of the company’s stock valued at $2,642,000 after buying an additional 200 shares during the last quarter. Westpac Banking Corp boosted its position in shares of Cloudflare by 1.2% during the 4th quarter. Westpac Banking Corp now owns 18,006 shares of the company’s stock worth $814,000 after purchasing an additional 222 shares in the last quarter. IFP Advisors Inc boosted its position in shares of Cloudflare by 1.8% during the 3rd quarter. IFP Advisors Inc now owns 14,656 shares of the company’s stock worth $394,000 after purchasing an additional 264 shares in the last quarter. Knuff & Co LLC boosted its position in shares of Cloudflare by 16.7% during the 3rd quarter. Knuff & Co LLC now owns 1,900 shares of the company’s stock worth $105,000 after purchasing an additional 272 shares in the last quarter. Finally, Forum Financial Management LP boosted its position in shares of Cloudflare by 11.5% during the 1st quarter. Forum Financial Management LP now owns 2,653 shares of the company’s stock worth $317,000 after purchasing an additional 273 shares in the last quarter. Institutional investors and hedge funds own 69.97% of the company’s stock.
Cloudflare Trading Down 1.2 %
Shares of NET stock opened at $49.43 on Friday. The stock has a 50-day simple moving average of $56.13 and a 200 day simple moving average of $52.51. Cloudflare, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $80.99. The stock has a market capitalization of $16.41 billion, a P/E ratio of -83.78 and a beta of 1.01. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 2.20.
Insider Buying and Selling
In related news, General Counsel Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $60.61, for a total value of $181,830.00. Following the completion of the sale, the general counsel now directly owns 54,960 shares of the company’s stock, valued at approximately $3,331,125.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, General Counsel Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 3rd. The stock was sold at an average price of $60.61, for a total transaction of $181,830.00. Following the completion of the sale, the general counsel now directly owns 54,960 shares of the company’s stock, valued at approximately $3,331,125.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction dated Monday, February 13th. The stock was sold at an average price of $62.41, for a total value of $3,269,285.44. The disclosure for this sale can be found here. In the last ninety days, insiders sold 411,007 shares of company stock valued at $25,110,698. Corporate insiders own 15.99% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have commented on NET. Cantor Fitzgerald decreased their target price on shares of Cloudflare from $65.00 to $50.00 in a research report on Friday, April 28th. JMP Securities decreased their price objective on shares of Cloudflare from $90.00 to $60.00 in a research report on Friday, April 28th. The Goldman Sachs Group began coverage on shares of Cloudflare in a research report on Tuesday, February 14th. They issued a “sell” rating and a $51.00 price objective on the stock. Citigroup boosted their price objective on shares of Cloudflare from $50.00 to $59.00 and gave the stock a “neutral” rating in a research report on Monday, February 13th. Finally, Robert W. Baird decreased their price objective on shares of Cloudflare from $67.00 to $59.00 in a research report on Friday, April 28th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $61.04.
About Cloudflare
CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.
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