Cloudflare, Inc. (NYSE:NET) Stake Increased by National Pension Service

National Pension Service increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 0.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 471,923 shares of the company’s stock after buying an additional 4,062 shares during the quarter. National Pension Service’s holdings in Cloudflare were worth $38,174,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Allspring Global Investments Holdings LLC increased its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the period. Private Advisor Group LLC increased its stake in Cloudflare by 22.0% in the 1st quarter. Private Advisor Group LLC now owns 18,662 shares of the company’s stock valued at $1,807,000 after buying an additional 3,362 shares during the period. Sequoia Financial Advisors LLC purchased a new stake in Cloudflare in the 1st quarter worth approximately $239,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Cloudflare by 13.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,185 shares of the company’s stock valued at $4,340,000 after buying an additional 5,392 shares during the period. Finally, Janney Montgomery Scott LLC grew its holdings in shares of Cloudflare by 86.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 13,800 shares of the company’s stock valued at $1,336,000 after acquiring an additional 6,405 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In other news, Director Maria S. Eitel sold 6,875 shares of the company’s stock in a transaction that occurred 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 sale, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Maria S. Eitel sold 6,875 shares of the company’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 sale, the director now owns 5,927 shares of the company’s stock, valued at approximately $521,576. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the transaction, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 477,043 shares of company stock valued at $39,737,342 over the last quarter. 12.83% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on NET. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Piper Sandler boosted their price target on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Royal Bank of Canada boosted their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Guggenheim boosted their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Finally, Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $91.72.

Cloudflare Price Performance

Shares of NET stock opened at $92.49 on Thursday. The stock has a 50 day moving average of $84.30 and a two-hundred day moving average of $80.59. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $31.60 billion, a P/E ratio of -318.93 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $61.34 and a 12 month high of $116.00.

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.