Cloudflare, Inc. $NET Stock Holdings Lifted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 43.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 81,074 shares of the company’s stock after acquiring an additional 24,649 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Cloudflare were worth $15,877,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Cloudflare by 33.5% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after purchasing an additional 786,063 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Cloudflare in the first quarter valued at $88,203,000. American Century Companies Inc. boosted 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 worth $342,287,000 after buying an additional 779,819 shares during the period. KBC Group NV boosted its position in shares of Cloudflare by 1,388.7% in the second quarter. KBC Group NV now owns 736,153 shares of the company’s stock worth $144,161,000 after buying an additional 686,702 shares during the period. Finally, Raymond James Financial Inc. grew its holdings in shares of Cloudflare by 129.7% during the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock valued at $123,647,000 after buying an additional 619,526 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET opened at $196.54 on Wednesday. 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 firm has a market cap of $68.85 billion, a PE ratio of -655.15 and a beta of 2.10. The firm’s 50 day moving average price is $221.30 and its 200 day moving average price is $197.12. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Analyst Ratings Changes

NET has been the subject of several research analyst reports. Susquehanna increased their price objective on Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Mizuho upped their target price on Cloudflare from $240.00 to $280.00 and gave the company an “outperform” rating in a report on Friday, October 31st. Wells Fargo & Company raised their price target on shares of Cloudflare from $250.00 to $265.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. KeyCorp boosted their price objective on shares of Cloudflare from $235.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Finally, Oppenheimer started coverage on shares of Cloudflare in a research note on Monday, November 10th. They issued an “outperform” rating and a $260.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, Cloudflare presently has an average rating of “Moderate Buy” and an average target price of $235.35.

Insiders Place Their Bets

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, September 11th. The shares were sold at an average price of $226.46, for a total transaction of $11,862,880.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of the firm’s stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the transaction, the insider owned 14,575 shares in the company, valued at approximately $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 510,225 shares of company stock worth $108,621,381 in the last 90 days. 10.89% of the stock is owned by insiders.

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.