Cloudflare, Inc. (NYSE:NET) Market Position Increase by Mirae Asset Global Investments Co. Ltd.


Mirae Asset Global Investments Co. Ltd. raised its position in Cloudflare, Inc. (NYSE: NET – Get Rating) by 75.8% in Q1, according to the company in its latest SEC filing. The institutional investor held 41,173 shares of the company after acquiring an additional 17,755 shares during the quarter. The holdings of Mirae Asset Global Investments Co. Ltd. in Cloudflare were worth $4,928,000 when it was last filed with the SEC.

Several other hedge funds also changed their positions in the company. B. Metzler seel. Sohn & Co. AG increased its stake in Cloudflare by 19.8% in Q1. B. Metzler seel. Sohn & Co. AG now owns 5,207 shares of the company valued at $623,000 after purchasing an additional 860 shares during the period. NewEdge Wealth LLC increased its stake in Cloudflare by 161.6% in Q1. NewEdge Wealth LLC now owns 6,494 shares of the company valued at $777,000 after purchasing an additional 4,012 shares during the period. Clear Harbor Asset Management LLC increased its stake in Cloudflare stock by 1.2% during Q1. Clear Harbor Asset Management LLC now owns 21,062 shares of the company worth $2,521,000 after purchasing an additional 250 shares in the last quarter. Edmond DE Rothschild Holding SA increased its stake in Cloudflare shares by 61.8% during the 1st quarter. Edmond DE Rothschild Holding SA now owns 4,905 shares in the company worth $588,000 after purchasing an additional 1,874 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co increased its stake in Cloudflare shares by 16.8% during Q1. Elo Mutual Pension Insurance Co now owns 20,463 shares of the company worth $2,449,000 after buying 2,948 additional shares in the last quarter. Hedge funds and other institutional investors hold 69.96% of the company’s shares.

Cloudflare Price Performance

NYSE:NET opened at $65.78 on Tuesday. The company has a 50-day moving average of $54.48 and a 200-day moving average of $78.22. The company has a market capitalization of $21.46 billion, a price-earnings ratio of -72.29 and a beta of 1.22. Cloudflare, Inc. has a 52-week low of $38.96 and a 52-week high of $221.64. The company has a debt ratio of 2.47, a quick ratio of 5.45 and a current ratio of 5.45.

A Wall Street analyst gives his opinion

Several research analysts have recently commented on NET shares. Mizuho raised his price target on Cloudflare shares from $76.00 to $85.00 and gave the stock a “neutral” rating in a Friday, August 5 research note. Guggenheim began covering Cloudflare shares in a research note on Friday, August 12. They set a “neutral” rating and a price target of $82.00 on the stock. Cowen lowered his target price on Cloudflare shares from $250.00 to $200.00 in a Monday, May 2 research note. Wells Fargo & Company lowered its target price on Cloudflare stock from $60.00 to $42.00 and set an “equal weight” rating on the stock in a Monday, July 18 research note. Finally, Credit Suisse Group lowered its target price on Cloudflare shares to $125.00 in a Tuesday, August 9 research note. One analyst rated the stock with a sell rating, eleven gave the company’s stock a hold rating and eight gave the company’s stock a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $114.76.

Insider Trading at Cloudflare

In related news, manager Scott D. Sandell sold 2,441 shares in a trade dated Tuesday, June 14. The shares were sold at an average price of $40.91, for a total transaction of $99,861.31. Following the completion of the sale, the administrator now owns 3,454 shares of the company, valued at approximately $141,303.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. In related news, manager Scott D. Sandell sold 2,441 shares in a trade dated Tuesday, June 14. The shares were sold at an average price of $40.91, for a total transaction of $99,861.31. Following the completion of the sale, the administrator now owns 3,454 shares of the company, valued at approximately $141,303.14. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available on the SEC’s website. Additionally, CEO Matthew Prince sold 52,384 shares in a trade dated Monday, August 15. The stock was sold at an average price of $78.21, for a total transaction of $4,096,952.64. The disclosure of this sale can be found here. In the past three months, insiders have sold 322,745 shares of the company valued at $19,901,941. Insiders of the company own 15.99% of the shares of the company.

Cloud Flare Profile

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CloudFlare, Inc operates as a cloud service provider that offers a range of services to businesses around the world. The company offers an integrated cloud-based security solution to secure a range of platform combinations, including public cloud, private cloud, on-premises applications, software as a service, and IoT devices.

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Institutional ownership by quarter for Cloudflare (NYSE:NET)



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Ann J. Cox