Curi RMB Capital LLC Acquires 6,378 Shares of Cloudflare, Inc. (NYSE:NET)

Curi RMB Capital LLC grew its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 6.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC boosted its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Versant Capital Management Inc boosted its stake in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after buying an additional 170 shares during the period. GAMMA Investing LLC grew its holdings in shares of Cloudflare by 59.0% during the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after acquiring an additional 217 shares in the last quarter. Whittier Trust Co. increased its stake in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company's stock worth $65,000 after acquiring an additional 329 shares during the last quarter. Finally, Sava Infond d.o.o. purchased a new stake in shares of Cloudflare during the fourth quarter worth $65,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Ratings Changes

A number of research analysts have commented on NET shares. Morgan Stanley lowered their target price on Cloudflare from $154.00 to $144.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. JMP Securities increased their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Wells Fargo & Company lifted 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 dropped their price target on shares of Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, March 13th. Finally, Baird R W lowered shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $134.84.

Insider Activity

In related news, CEO Matthew Prince sold 2,311 shares of Cloudflare stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $107.75, for a total transaction of $249,010.25. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at $44,545,250.75. This trade represents a 0.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 496,973 shares of company stock worth $64,559,903. Corporate insiders own 12.83% of the company's stock.

Cloudflare Stock Performance

NET traded up $1.76 on Friday, hitting $120.63. 1,123,797 shares of the stock traded hands, compared to its average volume of 3,177,594. The business has a fifty day moving average price of $122.77 and a two-hundred day moving average price of $114.76. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $41.63 billion, a PE ratio of -547.50 and a beta of 1.59. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.