Cloudflare (NYSE:NET) Stock Rating Reaffirmed by Cantor Fitzgerald

Cantor Fitzgerald reiterated their neutral rating on shares of Cloudflare (NYSE:NETFree Report) in a research report sent to investors on Friday morning, MarketBeat Ratings reports. Cantor Fitzgerald currently has a $100.00 price objective on the stock, up from their previous price objective of $70.00.

Several other brokerages also recently issued reports on NET. Wells Fargo & Company increased their price objective on Cloudflare from $95.00 to $125.00 and gave the stock an overweight rating in a research note on Friday. Needham & Company LLC lifted their price target on shares of Cloudflare from $110.00 to $135.00 and gave the company a buy rating in a research report on Friday. Morgan Stanley upped their price objective on shares of Cloudflare from $55.00 to $60.00 and gave the stock an equal weight rating in a report on Tuesday, November 7th. Truist Financial upped their price objective on shares of Cloudflare from $80.00 to $90.00 and gave the stock a buy rating in a report on Tuesday, January 16th. Finally, Royal Bank of Canada decreased their price objective on shares of Cloudflare from $70.00 to $65.00 and set an outperform rating for the company in a report on Friday, November 3rd. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $86.52.

Check Out Our Latest Report on NET

Cloudflare Trading Down 2.1 %

Shares of NYSE NET opened at $105.64 on Friday. Cloudflare has a 12 month low of $39.90 and a 12 month high of $116.00. The company has a market cap of $35.47 billion, a price-to-earnings ratio of -192.07 and a beta of 1.10. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.83. The business has a fifty day simple moving average of $82.41 and a 200-day simple moving average of $70.57.

Insider Activity at Cloudflare

In related news, Director Scott D. Sandell sold 211,534 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $73.17, for a total value of $15,477,942.78. Following the completion of the sale, the director now owns 6,325 shares in the company, valued at approximately $462,800.25. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now directly owns 366,465 shares in the company, valued at approximately $40,351,461.15. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Scott D. Sandell sold 211,534 shares of the firm’s stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $73.17, for a total transaction of $15,477,942.78. Following the completion of the sale, the director now owns 6,325 shares of the company’s stock, valued at $462,800.25. The disclosure for this sale can be found here. Insiders sold a total of 939,020 shares of company stock worth $74,143,110 in the last quarter. Corporate insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. RFG Advisory LLC lifted its position in shares of Cloudflare by 51.2% during the 2nd quarter. RFG Advisory LLC now owns 5,791 shares of the company’s stock worth $379,000 after buying an additional 1,962 shares during the last quarter. Blueshift Asset Management LLC lifted its position in shares of Cloudflare by 100.2% during the 3rd quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after buying an additional 12,974 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Cloudflare by 377.1% during the 3rd quarter. SG Americas Securities LLC now owns 27,746 shares of the company’s stock worth $1,749,000 after buying an additional 21,930 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in Cloudflare by 4.0% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 299,483 shares of the company’s stock valued at $19,577,000 after purchasing an additional 11,600 shares during the last quarter. Finally, Van Hulzen Asset Management LLC raised its position in Cloudflare by 205.2% in the third quarter. Van Hulzen Asset Management LLC now owns 13,784 shares of the company’s stock valued at $869,000 after purchasing an additional 9,268 shares during the last quarter. 73.14% of the stock is owned by institutional investors.

About Cloudflare

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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, secure origin connection, and rate limiting products.

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