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

Independent Advisor Alliance cut its holdings in Cloudflare, Inc. (NYSE:NET) by 52.8% in the 3rd quarter, according to 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 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Reliant Investment Partners LLC lifted its holdings in Cloudflare by 1.5% in the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock worth $718,000 after buying an additional 50 shares during the period. Daymark Wealth Partners LLC lifted its position in Cloudflare by 1.1% during the second 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 period. Frank Rimerman Advisors LLC lifted its holdings in shares of Cloudflare by 1.8% during the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock valued at $605,000 after buying an additional 51 shares during the period. Huntington National Bank grew its stake in shares of Cloudflare by 22.8% during the 2nd quarter. Huntington National Bank now owns 280 shares of the company’s stock valued at $55,000 after purchasing an additional 52 shares during the period. Finally, Fiduciary Planning LLC raised its holdings in Cloudflare by 3.0% in the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after purchasing an additional 54 shares during the period. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Wall Street Zen raised Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Robert W. Baird set a $230.00 target price on Cloudflare in a research note on Wednesday, December 17th. Stifel Nicolaus lifted their price target on shares of Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Finally, Guggenheim reiterated a “sell” rating on shares of Cloudflare in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $232.48.

Cloudflare Stock Performance

NYSE NET opened at $182.41 on Tuesday. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. 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. 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 stock has a 50-day moving average of $194.30 and a 200 day moving average of $205.99.

Insider Buying and Selling at Cloudflare

In other news, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $211.16, for a total transaction of $3,167,400.00. Following the completion of the transaction, the director directly owned 953,073 shares in the company, valued at approximately $201,250,894.68. This represents a 1.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 627,693 shares of company stock valued at $123,884,812. 10.89% of the stock is owned by company insiders.

Cloudflare 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.