Chicago Partners Investment Group LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Chicago Partners Investment Group LLC bought a new position in Cloudflare, Inc. (NYSE:NET) in the third quarter, Holdings Channel reports. The firm bought 2,424 shares of the company’s stock, valued at approximately $212,000.

Other hedge funds have also bought and sold shares of the company. Baillie Gifford & Co. lifted its stake in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the period. Vanguard Group Inc. lifted its position in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after acquiring an additional 412,864 shares during the period. Capital World Investors grew its stake in Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Cloudflare by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after purchasing an additional 19,446 shares during the period. Finally, Marshall Wace LLP raised its stake in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Up 1.4 %

Shares of NET opened at $87.68 on Wednesday. The stock has a 50 day moving average price of $84.05 and a 200 day moving average price of $80.50. Cloudflare, Inc. has a one year low of $61.34 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $29.96 billion, a price-to-earnings ratio of -302.34 and a beta of 1.10.

Insider Transactions at Cloudflare

In other news, Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.00, for a total value of $605,000.00. Following the transaction, the director now directly owns 5,927 shares of the company’s stock, valued at approximately $521,576. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total value of $1,170,750.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $21,963,504.15. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Maria S. Eitel sold 6,875 shares of Cloudflare stock in a transaction on Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the transaction, the director now owns 5,927 shares in the company, valued at approximately $521,576. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 529,427 shares of company stock valued at $43,755,195 over the last 90 days. 12.83% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on NET shares. Wolfe Research started coverage on Cloudflare in a research report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Cantor Fitzgerald upped their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Susquehanna lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Finally, BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $91.72.

About Cloudflare

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.