M&T Bank Corp boosted its holdings in Cloudflare, Inc. (NYSE:NET – Get Rating) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,651 shares of the company’s stock after purchasing an additional 236 shares during the period. M&T Bank Corp’s holdings in Cloudflare were worth $502,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Baillie Gifford & Co. raised its position in shares of Cloudflare by 6.5% during the 4th quarter. Baillie Gifford & Co. now owns 26,335,438 shares of the company’s stock worth $1,190,625,000 after purchasing an additional 1,610,191 shares during the period. Vanguard Group Inc. raised its holdings in Cloudflare by 5.8% during the third quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock valued at $1,399,341,000 after buying an additional 1,398,081 shares in the last quarter. Sands Capital Management LLC grew its position in Cloudflare by 2.0% during the third quarter. Sands Capital Management LLC now owns 15,956,268 shares of the company’s stock worth $882,541,000 after buying an additional 312,315 shares in the last quarter. First Trust Advisors LP boosted its holdings in Cloudflare by 13.5% during the fourth quarter. First Trust Advisors LP now owns 6,350,693 shares of the company’s stock valued at $287,181,000 after purchasing an additional 755,225 shares in the last quarter. Finally, State Street Corp boosted its holdings in Cloudflare by 5.3% during the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after purchasing an additional 278,422 shares in the last quarter. Institutional investors own 69.97% of the company’s stock.
Cloudflare Stock Up 1.4 %
NET stock opened at $70.64 on Monday. Cloudflare, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $80.99. The business’s 50-day moving average is $57.18 and its two-hundred day moving average is $53.53. The company has a debt-to-equity ratio of 2.20, a quick ratio of 4.40 and a current ratio of 4.40. The company has a market cap of $23.45 billion, a price-to-earnings ratio of -119.73 and a beta of 0.99.
Analyst Ratings Changes
NET has been the subject of several research analyst reports. Royal Bank of Canada dropped their price objective on shares of Cloudflare from $70.00 to $54.00 in a research report on Friday, April 28th. Wells Fargo & Company reduced their price objective on shares of Cloudflare from $75.00 to $55.00 in a research note on Friday, April 28th. William Blair reaffirmed an “outperform” rating on shares of Cloudflare in a report on Wednesday, April 19th. Loop Capital initiated coverage on shares of Cloudflare in a report on Monday, February 6th. They issued a “hold” rating and a $52.00 price target on the stock. Finally, Robert W. Baird lowered their target price on shares of Cloudflare from $67.00 to $59.00 in a report on Friday, April 28th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average target price of $61.04.
Insider Transactions at Cloudflare
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 value of $181,830.00. Following the transaction, the general counsel now owns 54,960 shares of the company’s stock, valued at $3,331,125.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $181,830.00. Following the completion of the sale, the general counsel now owns 54,960 shares in the company, valued at $3,331,125.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Wednesday, March 8th. The shares were sold at an average price of $59.65, for a total value of $3,124,705.60. The disclosure for this sale can be found here. Insiders have sold 363,454 shares of company stock valued at $20,932,689 over the last quarter. 15.99% of the stock is currently owned by company insiders.
Cloudflare Company Profile
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.
Read More
- Get a free copy of the StockNews.com research report on Cloudflare (NET)
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