Western Wealth Management LLC Raises Stock Holdings in Cloudflare, Inc. $NET

Western Wealth Management LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 32.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,003 shares of the company’s stock after buying an additional 2,228 shares during the period. Western Wealth Management LLC’s holdings in Cloudflare were worth $1,763,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in shares of Cloudflare by 13.3% in the first quarter. Cerity Partners LLC now owns 21,168 shares of the company’s stock worth $2,385,000 after purchasing an additional 2,489 shares during the last quarter. CWM LLC grew its holdings in shares of Cloudflare by 2.5% in the first quarter. CWM LLC now owns 11,692 shares of the company’s stock valued at $1,318,000 after purchasing an additional 283 shares in the last quarter. Larson Financial Group LLC increased its position in Cloudflare by 243.5% in the first quarter. Larson Financial Group LLC now owns 1,865 shares of the company’s stock worth $210,000 after purchasing an additional 1,322 shares during the last quarter. Graypoint LLC purchased a new stake in Cloudflare during the first quarter valued at $217,000. Finally, Kingsview Wealth Management LLC bought a new position in shares of Cloudflare in the 1st quarter valued at about $206,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of several recent research reports. JMP Securities set a $270.00 price target on Cloudflare in a report on Friday, October 31st. Citizens Jmp lifted their price target on shares of Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Stifel Nicolaus increased their price objective 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. Royal Bank Of Canada upped their price objective on Cloudflare from $250.00 to $265.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. Finally, UBS Group lifted their target price on Cloudflare from $240.00 to $245.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $235.35.

Cloudflare Stock Down 1.7%

NYSE:NET opened at $207.12 on Monday. The company has a market cap of $72.55 billion, a PE ratio of -694.83 and a beta of 2.10. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The company’s 50 day moving average is $222.05 and its two-hundred day moving average is $196.05. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Insider Activity at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total value of $11,862,880.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 41,555 shares of the stock in a transaction that occurred on Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the transaction, the chief financial officer owned 189,517 shares in the company, valued at $36,129,520.88. This trade represents a 17.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 585,676 shares of company stock worth $122,718,003 in the last 90 days. Corporate insiders own 10.89% of the company’s stock.

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.