Nwam LLC Makes New Investment in Cloudflare, Inc. $NET

Nwam LLC bought a new position in Cloudflare, Inc. (NYSE:NET) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 1,275 shares of the company’s stock, valued at approximately $256,000.

Several other institutional investors have also made changes to their positions in NET. Quaker Wealth Management LLC lifted its position in shares of Cloudflare by 218.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock valued at $33,000 after acquiring an additional 306 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Cloudflare in the second quarter valued at $36,000. Ameritas Advisory Services LLC acquired a new stake in shares of Cloudflare in the second quarter worth $39,000. Cullen Frost Bankers Inc. acquired a new position in Cloudflare during the second quarter valued at $45,000. Finally, Whipplewood Advisors LLC boosted its position in Cloudflare by 277.6% during the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock worth $50,000 after acquiring an additional 186 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 20th. The stock was sold at an average price of $211.81, for a total value of $2,118,100.00. Following the sale, the chief financial officer owned 189,517 shares of the company’s stock, valued at $40,141,595.77. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Mark J. Hawkins sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $254.15, for a total value of $254,150.00. Following the transaction, the director owned 10,990 shares of the company’s stock, valued at approximately $2,793,108.50. This trade represents a 8.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 638,060 shares of company stock valued at $133,217,328. 10.89% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Bank of America increased their price target on shares of Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $199.00 to $224.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Argus lifted their target price on shares of Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research note on Monday. UBS Group upped their price target on shares of Cloudflare from $240.00 to $245.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Finally, Scotiabank lifted their price objective on Cloudflare from $200.00 to $225.00 and gave the company a “sector perform” 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $235.35.

Cloudflare Trading Down 5.4%

NYSE:NET opened at $213.58 on Friday. The company’s 50 day moving average is $222.12 and its 200-day moving average is $194.39. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 12 month low of $87.77 and a 12 month high of $260.00. The firm has a market cap of $74.81 billion, a price-to-earnings ratio of -711.93 and a beta of 2.10.

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.