Amalgamated Bank Has $2.41 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Amalgamated Bank boosted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 7.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,402 shares of the company's stock after buying an additional 1,400 shares during the period. Amalgamated Bank's holdings in Cloudflare were worth $2,412,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of NET. KBC Group NV increased its stake in Cloudflare by 21.6% in the first quarter. KBC Group NV now owns 49,451 shares of the company's stock valued at $5,573,000 after purchasing an additional 8,796 shares in the last quarter. Sovran Advisors LLC grew its stake in shares of Cloudflare by 45.2% in the 1st quarter. Sovran Advisors LLC now owns 2,990 shares of the company's stock valued at $323,000 after buying an additional 931 shares during the period. Joel Isaacson & Co. LLC increased its position in Cloudflare by 56.5% in the 1st quarter. Joel Isaacson & Co. LLC now owns 10,875 shares of the company's stock valued at $1,226,000 after buying an additional 3,926 shares in the last quarter. Aljian Capital Management LLC raised its stake in Cloudflare by 120.0% during the 1st quarter. Aljian Capital Management LLC now owns 9,608 shares of the company's stock worth $1,083,000 after buying an additional 5,240 shares during the period. Finally, Allspring Global Investments Holdings LLC bought a new position in Cloudflare in the first quarter worth approximately $39,898,000. Institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $100.88, for a total value of $5,284,497.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total transaction of $6,515,149.68. Following the completion of the sale, the chief financial officer directly owned 241,550 shares in the company, valued at approximately $37,870,209. This trade represents a 14.68% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 530,987 shares of company stock worth $80,832,794. 10.89% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on NET shares. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price on the stock in a report on Wednesday, April 16th. Oppenheimer reaffirmed an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. KeyCorp assumed coverage on shares of Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 target price for the company. Morgan Stanley upped their target price on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and lifted their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $145.92.

Cloudflare Stock Performance

NYSE NET opened at $191.26 on Friday. The company has a market capitalization of $66.29 billion, a PE ratio of -831.54 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $198.01. The company has a 50-day simple moving average of $162.79 and a 200 day simple moving average of $138.01.

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

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