Nwam LLC Takes Position in Cloudflare, Inc. $NET

Nwam LLC purchased a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,275 shares of the company’s stock, valued at approximately $256,000.

A number of other hedge funds have also recently added to or reduced their stakes in NET. Quaker Wealth Management LLC lifted its position in shares of Cloudflare by 218.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock worth $33,000 after buying an additional 306 shares during the last quarter. Hilltop National Bank bought a new position in Cloudflare in the second quarter worth about $36,000. Ameritas Advisory Services LLC bought a new position in Cloudflare in the second quarter worth about $39,000. Cullen Frost Bankers Inc. acquired a new position in Cloudflare in the second quarter valued at approximately $45,000. Finally, Whipplewood Advisors LLC grew its holdings in shares of Cloudflare by 277.6% during the second quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction dated Monday, October 20th. The shares were sold at an average price of $210.65, for a total value of $3,159,750.00. Following the completion of the sale, the director directly owned 998,073 shares of the company’s stock, valued at approximately $210,244,077.45. This represents a 1.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark J. Hawkins sold 1,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $254.15, for a total transaction of $254,150.00. Following the transaction, the director owned 10,990 shares of the company’s stock, valued at approximately $2,793,108.50. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 638,060 shares of company stock valued at $133,217,328 in the last quarter. 10.89% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Piper Sandler raised their price target on Cloudflare from $224.00 to $249.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Stifel Nicolaus upped their price target on shares of Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Susquehanna increased their price objective on shares of Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Citigroup upped their target price on shares of Cloudflare from $255.00 to $318.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Scotiabank lifted their price target on Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $235.35.

Cloudflare Stock Down 5.4%

Shares of NET stock opened at $213.58 on Friday. Cloudflare, Inc. has a 1 year low of $87.77 and a 1 year high of $260.00. 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 business’s fifty day moving average is $222.12 and its 200-day moving average is $194.39. The stock has a market cap of $74.81 billion, a PE ratio of -711.93 and a beta of 2.10.

Cloudflare Company Profile

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.