Calamos Wealth Management LLC Invests $341,000 in Cloudflare, Inc. (NYSE:NET)

Calamos Wealth Management LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 3,166 shares of the company’s stock, valued at approximately $341,000.

A number of other large investors have also added to or reduced their stakes in the company. Quarry LP grew its holdings in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Cloudflare in the 2nd quarter worth $906,000. SG Americas Securities LLC raised its position in shares of Cloudflare by 45.4% during the 3rd quarter. SG Americas Securities LLC now owns 25,940 shares of the company’s stock valued at $2,098,000 after buying an additional 8,099 shares in the last quarter. Diversified Trust Co bought a new position in shares of Cloudflare in the 3rd quarter valued at about $471,000. Finally, MBM Wealth Consultants LLC grew its position in Cloudflare by 7.8% in the third quarter. MBM Wealth Consultants LLC now owns 16,533 shares of the company’s stock worth $1,337,000 after acquiring an additional 1,202 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $89.06, for a total value of $4,665,319.04. Following the completion of the sale, the chief executive officer now directly owns 192,177 shares in the company, valued at $17,115,283.62. This trade represents a 21.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $95.03, for a total value of $2,721,184.05. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $24,030,141.07. The trade was a 10.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 616,257 shares of company stock valued at $67,256,408 in the last 90 days. Insiders own 12.83% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of several analyst reports. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and raised their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Mizuho lifted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday. Finally, Needham & Company LLC increased their price objective on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $112.32.

Cloudflare Stock Up 2.4 %

Shares of NYSE NET opened at $140.10 on Wednesday. The stock has a market capitalization of $48.08 billion, a PE ratio of -538.83 and a beta of 1.12. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $142.41. The stock’s fifty day simple moving average is $115.82 and its two-hundred day simple moving average is $95.58.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

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.