Sigma Planning Corp lowered its stake in Cloudflare, Inc. (NYSE:NET – Free Report) by 19.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,425 shares of the company’s stock after selling 1,505 shares during the period. Sigma Planning Corp’s holdings in Cloudflare were worth $520,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. National Pension Service lifted its position in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after buying an additional 4,062 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in Cloudflare during the second quarter valued at $7,319,000. Price T Rowe Associates Inc. MD lifted its position in Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after buying an additional 149,866 shares during the period. Comerica Bank lifted its position in Cloudflare by 19.9% during the first quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after buying an additional 4,733 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its position in Cloudflare by 13.5% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock valued at $15,935,000 after buying an additional 22,900 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.
Cloudflare Trading Down 2.3 %
Cloudflare stock opened at $92.00 on Friday. The business has a 50-day simple moving average of $85.57 and a two-hundred day simple moving average of $80.80. The company has a market cap of $31.44 billion, a P/E ratio of -353.58 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.
Insider Activity at Cloudflare
In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.06, for a total transaction of $4,089,095.04. Following the completion of the transaction, the chief executive officer now directly owns 10,761 shares in the company, valued at approximately $840,003.66. The trade was a 82.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $21,963,504.15. This represents a 5.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 473,548 shares of company stock worth $39,451,976. 12.83% of the stock is owned by company insiders.
Analyst Ratings Changes
Several equities analysts have commented on the company. Guggenheim raised their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Susquehanna lifted their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Mizuho lifted their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Finally, Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $92.88.
View Our Latest Analysis on NET
Cloudflare Profile
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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