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

Curi RMB Capital LLC lifted its stake in Cloudflare, Inc. (NYSE:NET) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 94,821 shares of the company’s stock after acquiring an additional 11,708 shares during the quarter. Curi RMB Capital LLC’s holdings in Cloudflare were worth $7,670,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allspring Global Investments Holdings LLC lifted its stake in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the last quarter. CVA Family Office LLC lifted its stake in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP lifted its stake in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in Cloudflare during the second quarter worth about $29,000. Finally, Versant Capital Management Inc increased its position in Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Insiders Place Their Bets

In related news, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. The trade was a 6.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $76.55, for a total value of $4,009,995.20. Following the completion of the transaction, the chief executive officer now owns 10,761 shares of the company’s stock, valued at $823,754.55. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,548 shares of company stock valued at $39,451,976. 12.83% of the stock is currently owned by corporate insiders.

Cloudflare Price Performance

Shares of NYSE:NET opened at $92.00 on Friday. The company’s 50 day simple moving average is $85.57 and its 200 day simple moving average is $80.80. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) 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 company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Analysts anticipate that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Scotiabank raised their price objective on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim increased their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.88.

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.