Pictet Asset Management SA decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET – Get Rating) by 1.7% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 85,703 shares of the company’s stock after selling 1,461 shares during the quarter. Pictet Asset Management SA’s holdings in Cloudflare were worth $3,750,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. GSA Capital Partners LLP raised its position in shares of Cloudflare by 23.2% in the first quarter. GSA Capital Partners LLP now owns 2,202 shares of the company’s stock valued at $264,000 after purchasing an additional 414 shares during the period. Skandinaviska Enskilda Banken AB publ raised its position in shares of Cloudflare by 11.7% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 46,834 shares of the company’s stock valued at $5,606,000 after purchasing an additional 4,891 shares during the period. Toronto Dominion Bank raised its position in shares of Cloudflare by 114.0% in the first quarter. Toronto Dominion Bank now owns 122,864 shares of the company’s stock valued at $14,706,000 after purchasing an additional 65,462 shares during the period. Lake Street Advisors Group LLC bought a new position in shares of Cloudflare in the second quarter valued at about $890,000. Finally, Circle Wealth Management LLC raised its position in shares of Cloudflare by 34.7% in the first quarter. Circle Wealth Management LLC now owns 21,004 shares of the company’s stock valued at $2,514,000 after purchasing an additional 5,415 shares during the period. Institutional investors and hedge funds own 71.69% of the company’s stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on NET. Citigroup increased their price objective on shares of Cloudflare to $62.00 in a research report on Monday, August 15th. Cowen decreased their target price on shares of Cloudflare from $100.00 to $75.00 in a report on Friday, November 4th. Piper Sandler raised their target price on shares of Cloudflare from $57.00 to $73.00 and gave the company a “neutral” rating in a report on Friday, August 5th. Moffett Nathanson began coverage on shares of Cloudflare in a report on Thursday, September 22nd. They issued a “buy” rating and a $114.00 target price on the stock. Finally, Cantor Fitzgerald raised their target price on shares of Cloudflare from $55.00 to $65.00 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. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus target price of $90.84.
Insider Buying and Selling
Cloudflare Stock Down 2.9 %
NYSE:NET opened at $47.01 on Monday. The firm’s 50 day simple moving average is $53.88 and its 200 day simple moving average is $55.45. The company has a debt-to-equity ratio of 2.42, a current ratio of 5.35 and a quick ratio of 5.35. Cloudflare, Inc. has a one year low of $37.37 and a one year high of $220.79. The company has a market cap of $15.45 billion, a PE ratio of -67.16 and a beta of 1.08.
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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