Assetmark Inc. Has $3.31 Million Stock Holdings in Cloudflare, Inc. (NYSE:NET)

Assetmark Inc. raised its holdings in Cloudflare, Inc. (NYSE:NET) by 14,668.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,719 shares of the company’s stock after purchasing an additional 30,511 shares during the quarter. Assetmark Inc.’s holdings in Cloudflare were worth $3,308,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of NET. Geode Capital Management LLC lifted its stake in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Cloudflare by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock valued at $138,516,000 after acquiring an additional 23,641 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Cloudflare by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock valued at $131,559,000 after acquiring an additional 63,945 shares during the last quarter. Swiss National Bank lifted its stake in shares of Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in shares of Cloudflare by 0.4% in the 4th quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock valued at $71,250,000 after acquiring an additional 2,483 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Cloudflare stock opened at $126.57 on Monday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company’s 50 day moving average price is $135.81 and its two-hundred day moving average price is $107.51. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market cap of $43.67 billion, a P/E ratio of -575.30 and a beta of 1.27.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on NET. The Goldman Sachs Group raised their target price on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. raised their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Finally, Stifel Nicolaus raised their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $136.28.

Insider Buying and Selling

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $145.04, for a total transaction of $7,597,775.36. Following the completion of the sale, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 623,046 shares of company stock valued at $79,594,844. 12.83% of the stock is owned by company insiders.

Cloudflare 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.