Shares of Cloudflare rose to $78.78 during today's evening trading session. Despite the 2.1% change, the large-cap Software company still trades 18.79% above its average analyst target price of $66.32. So there may be further downside for the Software stock. Cloudflare has target prices ranging from $45.0 to $85.0 per share, and its average rating is buy.
The stock has an average amount of shares sold short at 7.7%, and a short ratio of 4.6. 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 89.2% of Cloudflare's shares being owned by this investor type.
Institutions Invested in Cloudflare
| Date Reported | Holder | Percentage | Shares | Value |
|---|---|---|---|---|
| 2023-09-30 | Morgan Stanley | 11% | 31,651,509 | $2,493,505,840 |
| 2023-09-30 | Baillie Gifford and Company | 10% | 31,058,224 | $2,446,766,848 |
| 2023-09-30 | Vanguard Group Inc | 9% | 27,418,275 | $2,160,011,671 |
| 2023-09-30 | Capital World Investors | 9% | 27,056,648 | $2,131,522,696 |
| 2023-09-30 | Blackrock Inc. | 5% | 15,825,603 | $1,246,740,985 |
| 2023-09-30 | FMR, LLC | 5% | 14,076,411 | $1,108,939,641 |
| 2023-09-30 | Sands Capital Management, LLC | 4% | 11,007,391 | $867,162,249 |
| 2023-09-30 | Voya Investment Management LLC | 2% | 6,518,042 | $513,491,340 |
| 2023-09-30 | First Trust Advisors LP | 2% | 6,123,839 | $482,436,028 |
| 2023-09-30 | State Street Corporation | 2% | 5,750,413 | $453,017,529 |
Besides an analyst belief that shares are overpriced, other market factors point to there being mixed market sentiment on Cloudflare.
