Mackenzie Financial Corp Has $1.14 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Mackenzie Financial Corp decreased its position in Cloudflare, Inc. (NYSE:NET) by 3.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 13,665 shares of the company’s stock after selling 472 shares during the period. Mackenzie Financial Corp’s holdings in Cloudflare were worth $1,138,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Carnegie Capital Asset Management LLC grew its holdings in shares of Cloudflare by 11.7% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 152,760 shares of the company’s stock valued at $12,719,000 after buying an additional 16,040 shares during the period. Simplicity Solutions LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $257,000. ORG Partners LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $55,000. NewEdge Wealth LLC acquired a new position in shares of Cloudflare in the 4th quarter valued at $232,000. Finally, Perigon Wealth Management LLC grew its holdings in shares of Cloudflare by 72.7% in the 4th quarter. Perigon Wealth Management LLC now owns 16,299 shares of the company’s stock valued at $1,357,000 after buying an additional 6,861 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 10,031 shares of the company’s stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total value of $811,608.21. Following the transaction, the director now owns 1,454,919 shares in the company, valued at approximately $117,717,496.29. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Cloudflare news, Director Carl Ledbetter sold 10,031 shares of the stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $80.91, for a total transaction of $811,608.21. Following the transaction, the director now owns 1,454,919 shares in the company, valued at approximately $117,717,496.29. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 50,000 shares of the stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the transaction, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,036,341 shares of company stock worth $101,013,542. Insiders own 14.80% of the company’s stock.

Cloudflare Stock Down 0.2 %

Cloudflare stock opened at $87.68 on Thursday. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The firm has a market capitalization of $29.61 billion, a PE ratio of -159.42 and a beta of 1.12. The company’s 50-day moving average is $95.72 and its 200-day moving average is $82.47. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NET. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Wells Fargo & Company boosted their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. Truist Financial boosted their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Susquehanna boosted their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Finally, Royal Bank of Canada boosted their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $87.08.

Cloudflare Company Profile

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.