Independent Advisor Alliance Sells 14,025 Shares of Cloudflare, Inc. $NET

Independent Advisor Alliance lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 52.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,519 shares of the company’s stock after selling 14,025 shares during the period. Independent Advisor Alliance’s holdings in Cloudflare were worth $2,686,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. ORG Wealth Partners LLC boosted its holdings in Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after purchasing an additional 70 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in Cloudflare in the second quarter worth about $29,000. Harbor Investment Advisory LLC bought a new position in shares of Cloudflare during the 3rd quarter worth approximately $32,000. Cloud Capital Management LLC bought a new position in shares of Cloudflare during the third quarter valued at $31,000. Finally, Stone House Investment Management LLC grew its stake in Cloudflare by 700.0% during the third quarter. Stone House Investment Management LLC now owns 160 shares of the company’s stock worth $34,000 after buying an additional 140 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Guggenheim restated a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Scotiabank upped their price target on shares of Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” rating in a report on Friday, October 31st. Oppenheimer initiated coverage on Cloudflare in a research note on Monday, November 10th. They issued an “outperform” rating and a $260.00 target price on the stock. Stifel Nicolaus upped their price objective on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Royal Bank Of Canada reissued an “outperform” rating on shares of Cloudflare in a research report on Tuesday, January 27th. 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. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and a consensus price target of $232.48.

Cloudflare Trading Up 2.9%

NYSE:NET opened at $182.41 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The firm has a fifty day simple moving average of $194.30 and a two-hundred day simple moving average of $205.99. The stock has a market capitalization of $63.90 billion, a price-to-earnings ratio of -608.04, a PEG ratio of 153.72 and a beta of 1.97.

Insiders Place Their Bets

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $189.47, for a total transaction of $9,925,196.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $200.27, for a total transaction of $504,680.40. Following the sale, the director owned 495,191 shares of the company’s stock, valued at $99,171,901.57. This trade represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 627,693 shares of company stock worth $123,884,812 in the last ninety days. 10.89% of the stock is owned by corporate insiders.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.