Calamos Wealth Management LLC Purchases New Shares in Cloudflare, Inc. (NYSE:NET)

Calamos Wealth Management LLC acquired a new position in Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,166 shares of the company’s stock, valued at approximately $341,000.

Several other institutional investors and hedge funds have also recently modified their holdings of NET. Hartline Investment Corp lifted its holdings in Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after buying an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare in the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. boosted its position in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares in the last quarter. National Pension Service grew its stake in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, Banque Cantonale Vaudoise raised its holdings in Cloudflare by 20.8% in the third quarter. Banque Cantonale Vaudoise now owns 36,753 shares of the company’s stock worth $2,973,000 after purchasing an additional 6,326 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Trading Up 2.4 %

Shares of NET stock opened at $140.10 on Wednesday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $142.41. The firm has a fifty day moving average price of $115.82 and a 200-day moving average price of $95.58. The company has a market cap of $48.08 billion, a price-to-earnings ratio of -538.83 and a beta of 1.12. 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 (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insider Buying and Selling at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. The trade was a 21.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 616,257 shares of company stock valued at $67,256,408 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NET has been the topic of a number of research reports. BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and lifted their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Cantor Fitzgerald assumed coverage on Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Royal Bank of Canada lifted their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Finally, Robert W. Baird reissued a “neutral” rating and issued a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $112.32.

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.