Cloudflare surged to $66.58 per share this afternoon, but it remains 15.76% above its mean target price of $57.52. There may still be room for more downwards movement — even after today's 4.2% drop. Analysts are giving the large-cap Software stock on average rating of buy, with target prices ranging from $38.0 to $82.0 per share.
The stock has an above average percentage of its shares sold short at 8.2%, and a short ratio of 2.97. The company's insiders own 0.97% of its outstanding shares, which indicates a strong alignment between management and shareholder interests. Finally, we also note that a significant number of institutional investors are invested in the stock, with 85.7% of Cloudflare's shares being owned by this investor type.
Institutions Invested in Cloudflare
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-03-31 | Morgan Stanley | 11% | 32,334,542 | $2,152,995,449 |
| 2023-03-31 | Vanguard Group, Inc. (The) | 9% | 26,314,705 | $1,752,164,608 |
| 2023-03-31 | Baillie Gifford and Company | 9% | 25,717,733 | $1,712,415,228 |
| 2023-03-31 | Capital World Investors | 6% | 16,873,090 | $1,123,494,682 |
| 2023-03-31 | FMR, LLC | 6% | 16,635,014 | $1,107,642,391 |
| 2023-03-31 | Blackrock Inc. | 5% | 15,711,162 | $1,046,127,707 |
| 2023-03-31 | Sands Capital Management, LLC | 5% | 14,663,001 | $976,335,908 |
| 2023-03-31 | State Street Corporation | 2% | 5,609,457 | $373,505,689 |
| 2023-03-31 | First Trust Advisors LP | 2% | 5,223,457 | $347,803,879 |
| 2023-03-31 | Voya Investment Management LLC | 2% | 5,027,553 | $334,759,611 |
Besides an analyst belief that shares are overpriced, other market factors point to there being negative market sentiment on Cloudflare.
