Curi RMB Capital LLC Has $7.67 Million Stake in Cloudflare, Inc. (NYSE:NET)

Curi RMB Capital LLC boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 14.1% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 94,821 shares of the company’s stock after buying an additional 11,708 shares during the quarter. Curi RMB Capital LLC’s holdings in Cloudflare were worth $7,670,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research analyst reports. Scotiabank upped their price target on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Piper Sandler boosted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $92.88.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $92.00 on Friday. The business’s 50 day moving average is $85.57 and its 200 day moving average is $80.80. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction 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 transaction, the chief executive officer now owns 10,761 shares of the company’s stock, valued at $840,003.66. This trade represents a 82.96 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 473,548 shares of company stock worth $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.