Korea Investment CORP reduced its holdings in Cloudflare, Inc. (NYSE:NET – Get Rating) by 7.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,921 shares of the company’s stock after selling 5,324 shares during the period. Korea Investment CORP’s holdings in Cloudflare were worth $3,071,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in the business. Banco Bilbao Vizcaya Argentaria S.A. increased its position in Cloudflare by 107.8% in the 4th quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 19,209 shares of the company’s stock worth $858,000 after buying an additional 9,967 shares during the period. Quadrant Capital Group LLC increased its position in shares of Cloudflare by 108.6% during the fourth quarter. Quadrant Capital Group LLC now owns 1,162 shares of the company’s stock valued at $53,000 after purchasing an additional 605 shares during the period. Creative Planning increased its position in shares of Cloudflare by 158.4% during the fourth quarter. Creative Planning now owns 18,858 shares of the company’s stock valued at $853,000 after purchasing an additional 11,559 shares during the period. First Horizon Advisors Inc. increased its position in shares of Cloudflare by 45.4% during the fourth quarter. First Horizon Advisors Inc. now owns 682 shares of the company’s stock valued at $31,000 after purchasing an additional 213 shares during the period. Finally, Amalgamated Bank increased its position in shares of Cloudflare by 1.8% during the fourth quarter. Amalgamated Bank now owns 31,794 shares of the company’s stock valued at $1,437,000 after purchasing an additional 572 shares during the period. 69.97% of the stock is owned by institutional investors.
Cloudflare Trading Up 1.4 %
NYSE NET opened at $70.64 on Monday. The stock has a 50-day simple moving average of $57.18 and a 200 day simple moving average of $53.53. The company has a market capitalization of $23.45 billion, a PE ratio of -119.73 and a beta of 0.99. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 2.20. Cloudflare, Inc. has a 12 month low of $37.37 and a 12 month high of $80.99.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on NET shares. Credit Suisse Group lowered their price objective on Cloudflare from $95.00 to $75.00 in a research report on Monday, May 1st. Needham & Company LLC reaffirmed a “buy” rating and issued a $77.00 price target on shares of Cloudflare in a research note on Wednesday, March 22nd. Robert W. Baird decreased their price target on Cloudflare from $67.00 to $59.00 in a research note on Friday, April 28th. Mizuho decreased their price target on Cloudflare from $60.00 to $49.00 in a research note on Friday, April 28th. Finally, Cantor Fitzgerald decreased their price target on Cloudflare from $65.00 to $50.00 in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $61.04.
Insiders Place Their Bets
In other Cloudflare 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 in the company, valued at $3,331,125.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Cloudflare 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 in the company, valued at $3,331,125.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Katrin Suder sold 9,000 shares of the stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $63.65, for a total value of $572,850.00. Following the completion of the sale, the director now owns 43,017 shares of the company’s stock, valued at $2,738,032.05. The disclosure for this sale can be found here. Insiders sold 363,454 shares of company stock worth $20,932,689 over the last ninety days. 15.99% of the stock is currently owned by corporate insiders.
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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