Mutual Advisors LLC Acquires 7,253 Shares of Cloudflare, Inc. $NET

Mutual Advisors LLC boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 398.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 9,072 shares of the company’s stock after purchasing an additional 7,253 shares during the quarter. Mutual Advisors LLC’s holdings in Cloudflare were worth $1,970,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in NET. CWS Financial Advisors LLC acquired a new position in shares of Cloudflare during the third quarter worth approximately $207,000. Frank Rimerman Advisors LLC increased its position in Cloudflare by 1.8% during the third quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock worth $605,000 after acquiring an additional 51 shares during the period. Everhart Financial Group Inc. raised its stake in Cloudflare by 14.6% during the 3rd quarter. Everhart Financial Group Inc. now owns 6,460 shares of the company’s stock valued at $1,386,000 after purchasing an additional 825 shares during the last quarter. Howard Capital Management Inc. boosted its holdings in Cloudflare by 3.2% in the 3rd quarter. Howard Capital Management Inc. now owns 2,142 shares of the company’s stock valued at $460,000 after purchasing an additional 66 shares during the period. Finally, National Pension Service boosted its holdings in Cloudflare by 1.0% in the 3rd quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after purchasing an additional 5,939 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Trading Down 6.7%

Shares of NET opened at $170.16 on Wednesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $59.60 billion, a price-to-earnings ratio of -567.21, a PEG ratio of 158.12 and a beta of 1.97. The stock has a fifty day moving average price of $193.75 and a two-hundred day moving average price of $205.81. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00.

Insider Buying and Selling

In other Cloudflare news, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $199.26, for a total value of $6,993,826.74. Following the completion of the transaction, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $4,892,829.30. The trade was a 58.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $194.18, for a total transaction of $8,069,149.90. Following the completion of the sale, the chief financial officer directly owned 137,486 shares of the company’s stock, valued at approximately $26,697,031.48. This represents a 23.21% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 630,827 shares of company stock worth $124,436,992 in the last 90 days. Corporate insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on NET shares. Scotiabank upped their price objective on shares of Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” rating in a research report on Friday, October 31st. DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price target for the company in a report on Wednesday, November 5th. Citizens Jmp raised their price objective on Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research report on Friday, October 31st. Wells Fargo & Company boosted their price objective on Cloudflare from $250.00 to $265.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Jefferies Financial Group restated a “hold” rating and issued a $225.00 target price on shares of Cloudflare in a research note on Tuesday, December 16th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.