Cloudflare, Inc. $NET Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 16.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,239 shares of the company’s stock after acquiring an additional 13,142 shares during the quarter. Cetera Investment Advisers’ holdings in Cloudflare were worth $18,063,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Daymark Wealth Partners LLC raised its stake in Cloudflare by 1.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock valued at $892,000 after purchasing an additional 51 shares during the last quarter. Huntington National Bank grew its holdings in shares of Cloudflare by 22.8% during the second quarter. Huntington National Bank now owns 280 shares of the company’s stock worth $55,000 after buying an additional 52 shares in the last quarter. ORG Partners LLC grew its holdings in shares of Cloudflare by 11.9% during the second quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after buying an additional 53 shares in the last quarter. Fiduciary Planning LLC raised its position in shares of Cloudflare by 3.0% in the second quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock valued at $363,000 after buying an additional 54 shares during the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Cloudflare by 1.9% in the second quarter. Yousif Capital Management LLC now owns 4,044 shares of the company’s stock worth $792,000 after buying an additional 75 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. Royal Bank Of Canada increased their price objective on shares of Cloudflare from $250.00 to $265.00 and gave the company an “outperform” rating in a report on Friday, October 31st. UBS Group increased their price target on Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Cantor Fitzgerald lifted their price objective on Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a research report on Friday, October 31st. Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Finally, Morgan Stanley raised their target price on Cloudflare from $225.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given 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, Cloudflare currently has a consensus rating of “Moderate Buy” and an average target price of $235.35.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 983,073 shares in the company, valued at approximately $204,439,861.08. The trade was a 1.50% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director John Graham-Cumming sold 2,520 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $250.83, for a total transaction of $632,091.60. Following the transaction, the director directly owned 495,191 shares of the company’s stock, valued at approximately $124,208,758.53. This trade represents a 0.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 510,225 shares of company stock valued at $108,621,381 over the last 90 days. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Down 2.8%

Shares of NYSE NET opened at $196.54 on Wednesday. The company has a market capitalization of $68.85 billion, a P/E 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 has a 50 day simple moving average of $221.30 and a 200-day simple moving average of $197.12. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00.

About Cloudflare

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.