CIBC Asset Management Inc Has $765,000 Stock Holdings in Cloudflare, Inc. (NYSE:NET)

CIBC Asset Management Inc trimmed its holdings in Cloudflare, Inc. (NYSE:NETFree Report) by 6.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,189 shares of the company’s stock after selling 683 shares during the period. CIBC Asset Management Inc’s holdings in Cloudflare were worth $765,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently modified their holdings of NET. Kestra Private Wealth Services LLC acquired a new stake in shares of Cloudflare in the 3rd quarter valued at approximately $228,000. Amalgamated Bank boosted its holdings in shares of Cloudflare by 20.6% during the 3rd quarter. Amalgamated Bank now owns 37,879 shares of the company’s stock worth $2,388,000 after buying an additional 6,470 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Cloudflare by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock valued at $62,000,000 after buying an additional 11,342 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in Cloudflare by 1.2% in the 3rd quarter. Vanguard Personalized Indexing Management LLC now owns 19,736 shares of the company’s stock valued at $1,244,000 after acquiring an additional 239 shares during the period. Finally, Pathstone Family Office LLC acquired a new stake in Cloudflare during the third quarter worth approximately $1,069,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

NYSE NET opened at $70.73 on Monday. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The stock has a market cap of $24.03 billion, a PE ratio of -133.45 and a beta of 1.08. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The firm’s fifty day moving average price is $81.44 and its two-hundred day moving average price is $85.38.

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

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $94.25, for a total value of $4,937,192.00. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at approximately $1,148,247.75. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, June 5th. The stock was sold at an average price of $69.12, for a total value of $1,036,800.00. Following the completion of the sale, the chief financial officer now owns 309,937 shares of the company’s stock, valued at $21,422,845.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, March 14th. The stock was sold at an average price of $94.25, for a total value of $4,937,192.00. Following the completion of the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,148,247.75. The disclosure for this sale can be found here. Insiders sold a total of 677,101 shares of company stock worth $57,967,097 in the last quarter. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. The Goldman Sachs Group lowered their target price on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research note on Tuesday, June 4th. JPMorgan Chase & Co. dropped their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Bank of America upped their price target on shares of Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, May 31st. Finally, Wells Fargo & Company decreased their target price on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. Four 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 data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $90.70.

Read Our Latest Research Report on NET

Cloudflare Profile

(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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