Curi RMB Capital LLC Has $10.90 Million Position in Cloudflare, Inc. (NYSE:NET)

Curi RMB Capital LLC boosted its position in Cloudflare, Inc. (NYSE:NET) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 101,199 shares of the company’s stock after buying an additional 6,378 shares during the quarter. Curi RMB Capital LLC’s holdings in Cloudflare were worth $10,897,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of NET. Wellington Management Group LLP boosted its position in Cloudflare by 4.8% during the third quarter. Wellington Management Group LLP now owns 4,034 shares of the company’s stock valued at $326,000 after purchasing an additional 186 shares during the last quarter. Advisory Resource Group boosted its holdings in shares of Cloudflare by 1.6% in the 3rd quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after buying an additional 195 shares during the last quarter. Virtu Financial LLC acquired a new position in Cloudflare during the third quarter worth $1,268,000. Sanctuary Advisors LLC raised its position in Cloudflare by 37.2% during the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock worth $1,143,000 after acquiring an additional 3,835 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in Cloudflare in the third quarter valued at $204,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 31,136 shares of Cloudflare stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $30,369,566.90. This trade represents a 10.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. The trade was a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 579,389 shares of company stock worth $74,559,343. Corporate insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of several recent analyst reports. Wells Fargo & Company raised their target price on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Needham & Company LLC decreased their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. UBS Group cut their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Piper Sandler decreased their price objective on shares of Cloudflare from $131.00 to $112.00 and set a “neutral” rating on the stock in a report on Tuesday, April 8th. Finally, The Goldman Sachs Group reduced their target price on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $134.84.

Cloudflare Trading Down 1.6 %

Shares of NET opened at $107.81 on Friday. The business’s fifty day moving average is $126.73 and its 200-day moving average is $114.45. The firm has a market cap of $37.20 billion, a price-to-earnings ratio of -490.03 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Cloudflare Company 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.