Oppenheimer & Co. Inc. Has $1.84 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Oppenheimer & Co. Inc. boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 6.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 16,344 shares of the company’s stock after purchasing an additional 1,059 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Cloudflare were worth $1,842,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. CreativeOne Wealth LLC grew its stake in Cloudflare by 0.8% during the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after acquiring an additional 58 shares in the last quarter. Yousif Capital Management LLC grew its stake in Cloudflare by 2.5% during the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock valued at $447,000 after acquiring an additional 98 shares in the last quarter. Baxter Bros Inc. grew its stake in Cloudflare by 3.8% during the 4th quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after acquiring an additional 100 shares in the last quarter. Ellevest Inc. grew its stake in Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock valued at $489,000 after acquiring an additional 102 shares in the last quarter. Finally, Versant Capital Management Inc grew its stake in Cloudflare by 19.3% during the 1st quarter. Versant Capital Management Inc now owns 655 shares of the company’s stock valued at $74,000 after acquiring an additional 106 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total value of $5,284,497.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction on Friday, June 20th. The shares were sold at an average price of $180.76, for a total value of $1,807,600.00. Following the completion of the sale, the chief financial officer now owns 241,550 shares in the company, valued at $43,662,578. This trade represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 515,987 shares of company stock worth $77,174,354. 10.89% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Guggenheim boosted their price target on Cloudflare from $68.00 to $70.00 and gave the company a “sell” rating in a research note on Friday, May 9th. CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Morgan Stanley boosted their price target on Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, KeyCorp started coverage on Cloudflare in a research note on Friday, June 6th. They issued an “overweight” rating and a $210.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $145.92.

Cloudflare Stock Up 1.9%

Shares of NET stock opened at $194.68 on Friday. Cloudflare, Inc. has a 12 month low of $69.26 and a 12 month high of $194.71. The firm has a market cap of $67.48 billion, a PE ratio of -846.41 and a beta of 1.84. The stock has a 50 day moving average of $155.06 and a 200-day moving average of $135.24. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The firm’s quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 earnings per share. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current 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.