Pictet Asset Management SA Has $3.75 Million Stake in Cloudflare, Inc. (NYSE:NET)

Pictet Asset Management SA decreased its holdings in shares of Cloudflare, Inc. (NYSE:NETGet 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

In related news, General Counsel Douglas James Kramer sold 4,500 shares of Cloudflare stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $55.99, for a total transaction of $251,955.00. Following the sale, the general counsel now directly owns 62,299 shares in the company, valued at approximately $3,488,121.01. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction that occurred 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 transaction, the chief financial officer now owns 86,433 shares in the company, valued at approximately $3,524,737.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, General Counsel Douglas James Kramer sold 4,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $55.99, for a total transaction of $251,955.00. Following the completion of the transaction, the general counsel now owns 62,299 shares in the company, valued at approximately $3,488,121.01. The disclosure for this sale can be found here. Insiders have sold a total of 393,304 shares of company stock worth $21,954,778 in the last ninety days. Company insiders own 15.99% of the company’s stock.

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 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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