Cibc World Markets Corp Invests $645,000 in Cloudflare, Inc. (NYSE:NET)

Cibc World Markets Corp purchased a new stake in shares of Cloudflare, Inc. (NYSE:NETFree Report) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 7,743 shares of the company’s stock, valued at approximately $645,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new position in Cloudflare in the 4th quarter valued at about $39,000. Pingora Partners LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at approximately $42,000. Massmutual Trust Co. FSB ADV grew its position in shares of Cloudflare by 1,976.9% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after buying an additional 514 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Cloudflare by 98.7% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after buying an additional 296 shares during the last quarter. Finally, ORG Partners LLC acquired a new stake in Cloudflare in the fourth quarter valued at $55,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on NET shares. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, May 7th. The Goldman Sachs Group lowered their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, May 31st. Mizuho lowered their price target on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Finally, Oppenheimer reduced their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $90.70.

View Our Latest Stock Analysis on NET

Cloudflare Stock Performance

NET opened at $71.70 on Tuesday. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The business’s 50 day moving average is $80.97 and its 200-day moving average is $85.37. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00.

Cloudflare (NYSE:NETGet Free Report) last announced its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $372.93 million. Equities research analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Insider Activity

In related news, Director Katrin Suder sold 574 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $67.11, for a total value of $38,521.14. Following the sale, the director now directly owns 51,162 shares in the company, valued at approximately $3,433,481.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $97.16, for a total value of $291,480.00. Following the transaction, the insider now owns 205,238 shares of the company’s stock, valued at approximately $19,940,924.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Katrin Suder sold 574 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $67.11, for a total value of $38,521.14. Following the sale, the director now owns 51,162 shares in the company, valued at approximately $3,433,481.82. The disclosure for this sale can be found here. Insiders sold a total of 624,717 shares of company stock worth $52,903,660 over the last 90 days. 12.83% of the stock is currently owned by company insiders.

About Cloudflare

(Free Report)

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides 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; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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