Investing

Unusual Call Option Trade in Cloudflare, par value $0.001 per share Worth $1,460K

On May 1, 2023 at 11:18:48 ET an unusually large $1,460.00K block of Call contracts in Cloudflare, Inc. , par value $0.001 per share (NET) was bought, with a strike price of $55.00 / share, expiring in 109 day(s) (on August 18, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 1.17 sigmas above the mean, placing it in the 88.94th percentile of all recent large trades made in NET options.

This trade was first picked up on Fintel’s real time Options Flow tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 999 funds or institutions reporting positions in Cloudflare, Inc. , par value $0.001 per share. This is an increase of 13 owner(s) or 1.32% in the last quarter. Average portfolio weight of all funds dedicated to NET is 0.49%, a decrease of 8.31%. Total shares owned by institutions increased in the last three months by 4.39% to 284,274K shares. The put/call ratio of NET is 0.94, indicating a bullish outlook.

Analyst Price Forecast Suggests 56.50% Upside

As of April 24, 2023, the average one-year price target for Cloudflare, Inc. , par value $0.001 per share is $73.63. The forecasts range from a low of $43.43 to a high of $124.64. The average price target represents an increase of 56.50% from its latest reported closing price of $47.05.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Cloudflare, Inc. , par value $0.001 per share is $1,331MM, an increase of 26.37%. The projected annual non-GAAP EPS is $0.15.

What are Other Shareholders Doing?

Blueshift Asset Management holds 27K shares representing 0.01% ownership of the company. In it’s prior filing, the firm reported owning 6K shares, representing an increase of 78.85%. The firm increased its portfolio allocation in NET by 737.10% over the last quarter.

BFOCX – Berkshire Focus Fund holds 287K shares representing 0.09% ownership of the company. In it’s prior filing, the firm reported owning 312K shares, representing a decrease of 8.94%. The firm decreased its portfolio allocation in NET by 0.86% over the last quarter.

CRBN – iShares MSCI ACWI Low Carbon Target ETF holds 2K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 4K shares, representing a decrease of 76.47%. The firm decreased its portfolio allocation in NET by 51.79% over the last quarter.

RBLD – First Trust Global Engineering and Construction ETF holds 1K shares representing 0.00% ownership of the company. In it’s prior filing, the firm reported owning 2K shares, representing a decrease of 30.23%. The firm decreased its portfolio allocation in NET by 24.92% over the last quarter.

FSPGX – Fidelity Large Cap Growth Index Fund holds 172K shares representing 0.05% ownership of the company. In it’s prior filing, the firm reported owning 151K shares, representing an increase of 11.80%. The firm decreased its portfolio allocation in NET by 8.52% over the last quarter.

Cloudflare Background Information
(This description is provided by the company.)

Cloudflare, Inc. is on a mission to help build a better Internet. Cloudflare’s platform protects and accelerates any Internet application online without adding hardware, installing software, or changing a line of code. Internet properties powered by Cloudflare have all web traffic routed through its intelligent global network, which gets smarter with every request. As a result, they see significant improvement in performance and a decrease in spam and other attacks. Cloudflare was named to Entrepreneur Magazine’s Top Company Cultures 2018 list and ranked among the World’s Most Innovative Companies by Fast Company in 2019. Headquartered in San Francisco, CA, Cloudflare has offices in Austin, TX, Champaign, IL, Seattle, WA, New York, NY, San Jose, CA, Washington, D.C., Lisbon, London, Munich, Paris, Beijing, Singapore, Sydney, and Tokyo.

See all Cloudflare, Inc. , par value $0.001 per share regulatory filings.

This article originally appeared on Fintel

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