Cloudflare, Inc. (NYSE:NET) Shares Sold by Cibc World Market Inc.

Cibc World Market Inc. cut its stake in shares of Cloudflare, Inc. (NYSE:NETGet Rating) by 5.1% in the second quarter, Holdings Channel.com reports. The fund owned 20,689 shares of the company’s stock after selling 1,122 shares during the period. Cibc World Market Inc.’s holdings in Cloudflare were worth $905,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Clearstead Advisors LLC increased its position in shares of Cloudflare by 93.8% during the first quarter. Clearstead Advisors LLC now owns 310 shares of the company’s stock valued at $37,000 after acquiring an additional 150 shares during the last quarter. Proffitt & Goodson Inc. acquired a new stake in shares of Cloudflare during the first quarter valued at about $42,000. Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Cloudflare during the first quarter valued at about $47,000. San Luis Wealth Advisors LLC acquired a new stake in shares of Cloudflare during the first quarter valued at about $60,000. Finally, CVA Family Office LLC grew its holdings in shares of Cloudflare by 325.9% in the second quarter. CVA Family Office LLC now owns 575 shares of the company’s stock valued at $25,000 after purchasing an additional 440 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on NET shares. Credit Suisse Group dropped their price objective on shares of Cloudflare from $125.00 to $95.00 and set an “outperform” rating for the company in a report on Friday, November 4th. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $55.00 to $65.00 in a report on Friday, November 4th. Cowen dropped their price objective on shares of Cloudflare from $100.00 to $75.00 in a report on Friday, November 4th. Guggenheim started coverage on shares of Cloudflare in a report on Friday, August 12th. They issued a “neutral” rating and a $82.00 price objective for the company. Finally, Royal Bank of Canada dropped their price objective on shares of Cloudflare from $74.00 to $60.00 and set an “outperform” rating for the company in a report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $90.84.

Cloudflare Stock Down 2.9 %

Shares of NYSE:NET opened at $47.01 on Monday. The company has a market capitalization of $15.45 billion, a PE ratio of -67.16 and a beta of 1.08. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 2.42. Cloudflare, Inc. has a twelve month low of $37.37 and a twelve month high of $220.79. The firm has a 50 day simple moving average of $53.88 and a 200-day simple moving average of $55.45.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $40.78, for a total value of $815,600.00. Following the completion of the sale, the chief financial officer now owns 86,433 shares in the company, valued at approximately $3,524,737.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $40.78, for a total value of $815,600.00. Following the completion of the sale, the chief financial officer now owns 86,433 shares in the company, valued at approximately $3,524,737.74. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Thursday, November 10th. The shares were sold at an average price of $45.84, for a total transaction of $2,401,282.56. The disclosure for this sale can be found here. Insiders sold a total of 393,304 shares of company stock worth $21,954,778 in the last 90 days. 15.99% of the stock is owned by insiders.

Cloudflare Profile

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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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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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