Dorsey & Whitney Trust CO LLC Buys 258 Shares of Cloudflare, Inc. $NET

Dorsey & Whitney Trust CO LLC increased its stake in Cloudflare, Inc. (NYSE:NET) by 6.1% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 4,495 shares of the company’s stock after purchasing an additional 258 shares during the quarter. Dorsey & Whitney Trust CO LLC’s holdings in Cloudflare were worth $880,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Wealthedge Investment Advisors LLC raised its holdings in Cloudflare by 64.5% in the 1st quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after acquiring an additional 4,755 shares during the period. American Century Companies Inc. grew its position in shares of Cloudflare by 34.5% in the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after purchasing an additional 779,819 shares during the last quarter. Motley Fool Asset Management LLC increased its stake in shares of Cloudflare by 10.5% in the second quarter. Motley Fool Asset Management LLC now owns 17,752 shares of the company’s stock worth $3,476,000 after purchasing an additional 1,691 shares during the period. Independent Solutions Wealth Management LLC lifted its position in shares of Cloudflare by 293.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock worth $2,949,000 after purchasing an additional 11,230 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its position in shares of Cloudflare by 10.5% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after purchasing an additional 1,229 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 2.8%

Shares of Cloudflare stock opened at $196.54 on Wednesday. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The firm has a market capitalization of $68.85 billion, a PE ratio of -655.15 and a beta of 2.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The company’s fifty day moving average price is $221.30 and its two-hundred day moving average price is $197.12.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director John Graham-Cumming sold 2,520 shares of the company’s stock in a transaction on Monday, November 3rd. The stock was sold at an average price of $250.83, for a total value of $632,091.60. Following the sale, the director directly owned 495,191 shares in the company, valued at $124,208,758.53. This represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Monday, November 17th. The shares were sold at an average price of $207.96, for a total value of $3,119,400.00. Following the transaction, the director directly owned 983,073 shares of the company’s stock, valued at approximately $204,439,861.08. The trade was a 1.50% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 510,225 shares of company stock worth $108,621,381 in the last 90 days. 10.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on NET shares. Morgan Stanley lifted their price target on Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. Argus boosted their target price on shares of Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday, November 10th. Wall Street Zen raised shares of Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, October 8th. Finally, Piper Sandler upped their price objective on shares of Cloudflare from $224.00 to $249.00 and gave the company 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 issued a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $235.35.

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.