Cloudflare, Inc. (NYSE:NET) Shares Acquired by Curi RMB Capital LLC

Curi RMB Capital LLC raised its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 14.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 94,821 shares of the company's stock after purchasing an additional 11,708 shares during the period. Curi RMB Capital LLC's holdings in Cloudflare were worth $7,670,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock valued at $80,000 after purchasing an additional 119 shares during the last quarter. Elo Mutual Pension Insurance Co raised its holdings in shares of Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company's stock valued at $2,253,000 after purchasing an additional 136 shares during the period. Quarry LP grew its stake in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after buying an additional 146 shares during the period. Forum Financial Management LP increased its holdings in shares of Cloudflare by 6.1% during the second quarter. Forum Financial Management LP now owns 2,823 shares of the company's stock valued at $234,000 after acquiring an additional 162 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its stake in Cloudflare by 0.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company's stock valued at $3,041,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Down 2.3 %

NET stock traded down $2.15 during midday trading on Friday, reaching $89.79. 3,358,609 shares of the company were exchanged, compared to its average volume of 3,178,625. The company has a market cap of $30.68 billion, a price-to-earnings ratio of -345.33 and a beta of 1.10. 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 1-year low of $66.24 and a 1-year high of $116.00. The stock's 50-day simple moving average is $86.12 and its 200 day simple moving average is $80.88.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent analyst reports. Mizuho upped their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, October 17th. Guggenheim boosted their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a "sell" rating in a research report on Friday, August 2nd. Piper Sandler lifted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a research note on Friday, November 8th. Cantor Fitzgerald increased their target price on Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a research report on Friday, August 2nd. Finally, Susquehanna lifted their price target on Cloudflare from $80.00 to $85.00 and gave the company a "neutral" rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus price target of $92.88.

Insider Buying and Selling

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 shares were sold at an average price of $78.06, for a total value of $4,089,095.04. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Michelle Zatlyn sold 35,117 shares of Cloudflare stock in a transaction dated Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total value of $2,940,697.58. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at $16,092,901.98. This represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 473,548 shares of company stock valued at $39,451,976. 12.83% of the stock is owned by insiders.

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.