Asset Dedication LLC cut its stake in shares of Cloudflare, Inc. (NYSE:NET – Get Rating) by 35.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 218 shares of the company’s stock after selling 120 shares during the period. Asset Dedication LLC’s holdings in Cloudflare were worth $29,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in the business. Morgan Stanley grew its holdings in shares of Cloudflare by 120.2% in the second quarter. Morgan Stanley now owns 28,729,894 shares of the company’s stock valued at $3,040,771,000 after purchasing an additional 15,680,274 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Cloudflare by 88.9% in the second quarter. Prudential Financial Inc. now owns 5,800 shares of the company’s stock valued at $614,000 after purchasing an additional 2,730 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in shares of Cloudflare in the second quarter valued at approximately $209,000. Comerica Bank grew its holdings in shares of Cloudflare by 80.8% in the second quarter. Comerica Bank now owns 7,690 shares of the company’s stock valued at $909,000 after purchasing an additional 3,437 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in shares of Cloudflare in the second quarter valued at approximately $4,639,000. Institutional investors and hedge funds own 66.28% of the company’s stock.
A number of research analysts recently weighed in on the stock. Truist Financial dropped their price objective on shares of Cloudflare from $240.00 to $200.00 in a report on Tuesday, January 18th. JMP Securities assumed coverage on shares of Cloudflare in a report on Tuesday, February 22nd. They issued a “buy” rating and a $175.00 price objective for the company. Mizuho lifted their price objective on shares of Cloudflare from $120.00 to $135.00 and gave the company a “neutral” rating in a report on Friday, February 11th. Jefferies Financial Group lowered their price target on shares of Cloudflare from $210.00 to $120.00 and set a “hold” rating for the company in a report on Thursday, January 6th. Finally, Credit Suisse Group boosted their price target on shares of Cloudflare from $140.00 to $150.00 and gave the stock an “outperform” rating in a report on Friday, February 11th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus target price of $150.98.
NET stock opened at $109.84 on Monday. The company has a fifty day moving average price of $100.45 and a 200 day moving average price of $135.86. Cloudflare, Inc. has a 12 month low of $63.25 and a 12 month high of $221.64. The company has a market cap of $35.60 billion, a price-to-earnings ratio of -132.34 and a beta of 0.71. The company has a debt-to-equity ratio of 1.41, a current ratio of 6.78 and a quick ratio of 6.78.
In related news, CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction on Tuesday, December 21st. The shares were sold at an average price of $139.54, for a total value of $2,790,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $94.68, for a total transaction of $4,959,717.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 519,920 shares of company stock valued at $54,786,576. 20.69% of the stock is owned by insiders.
Cloudflare Profile (Get Rating)
CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.
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