To the Moon? What is going on with NET?

This morning we watched Cloudflare rise 1.1% to a price of $60.58 per share. The large-cap Data Processing Services company is now trading -13.97% below its average target price of $70.42. Analysts have set target prices ranging from $43.0 to $90.0 per share for Cloudflare, and have given the stock an average rating of buy.

Cloudflare has an average level of shares sold short, at 6.6% of its total share float. The stock's short ratio (also called days to cover) is 4.6. The company's insiders own 0.97% of its outstanding shares, which indicates a strong alignment between management and shareholder interests.

Institutional investors own 89.2% of Cloudflare's shares, which indicates they have a high level of confidence in the company.

Institutions Invested in Cloudflare

Date Reported Holder Percentage Shares Value
2023-06-30 Morgan Stanley 11% 32,119,491 $1,945,798,823
2023-06-30 Baillie Gifford and Company 11% 31,505,621 $1,908,610,577
2023-06-30 Vanguard Group Inc 9% 27,022,912 $1,637,048,058
2023-06-30 Capital World Investors 9% 26,433,363 $1,601,333,178
2023-06-30 Blackrock Inc. 5% 15,844,248 $959,844,572
2023-06-30 FMR, LLC 5% 13,216,358 $800,646,991
2023-06-30 Sands Capital Management, LLC 4% 11,404,544 $690,887,296
2023-06-30 Voya Investment Management LLC 2% 6,457,694 $391,207,114
2023-06-30 State Street Corporation 2% 5,654,459 $342,547,136
2023-06-30 First Trust Advisors LP 2% 5,272,538 $319,410,361
The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.