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:NETFree Report) 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.

Read Our Latest Analysis on NET

About Cloudflare

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NETFree Report).

Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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