Assetmark Inc. Has $3.31 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Assetmark Inc. increased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 14,668.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,719 shares of the company's stock after buying an additional 30,511 shares during the quarter. Assetmark Inc.'s holdings in Cloudflare were worth $3,308,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Cloudflare during the third quarter valued at $25,588,000. Parnassus Investments LLC lifted its holdings in shares of Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company's stock valued at $11,196,000 after purchasing an additional 131,319 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock valued at $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Generate Investment Management Ltd purchased a new stake in shares of Cloudflare during the fourth quarter valued at $12,946,000. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Cloudflare by 70.5% during the third quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company's stock valued at $22,716,000 after purchasing an additional 116,130 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Baird R W downgraded Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Cantor Fitzgerald increased their price objective on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Royal Bank of Canada increased their price objective on Cloudflare from $123.00 to $170.00 and gave the stock an "outperform" rating in a research note on Friday, February 7th. Needham & Company LLC reissued a "buy" rating and issued a $185.00 price objective on shares of Cloudflare in a research note on Tuesday, February 18th. Finally, Susquehanna upped their target price on Cloudflare from $95.00 to $170.00 and gave the stock a "neutral" rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $136.28.

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Cloudflare Trading Down 0.7 %

NET stock traded down $0.89 during midday trading on Wednesday, hitting $119.18. 6,764,018 shares of the company's stock were exchanged, compared to its average volume of 3,014,111. The stock's fifty day moving average price is $136.21 and its 200-day moving average price is $108.20. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $41.13 billion, a PE ratio of -541.73 and a beta of 1.27. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37.

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

Insider Transactions at Cloudflare

In related news, CAO Janel Riley sold 4,327 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the sale, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 2,481 shares of the business's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 597,406 shares of company stock valued at $76,705,729 over the last three months. Company insiders own 12.83% of the company's stock.

About Cloudflare

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.