Moloney Securities Asset Management LLC Buys 2,850 Shares of Cloudflare, Inc. (NYSE:NET)

Moloney Securities Asset Management LLC grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 53.2% during the third quarter, HoldingsChannel reports. The firm owned 8,212 shares of the company’s stock after purchasing an additional 2,850 shares during the quarter. Moloney Securities Asset Management LLC’s holdings in Cloudflare were worth $664,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Baillie Gifford & Co. boosted its stake in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares in the last quarter. Capital World Investors boosted its stake in shares of Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of Cloudflare by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after purchasing an additional 19,446 shares in the last quarter. Finally, Marshall Wace LLP boosted its stake in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on NET. Mizuho lifted their price target on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Needham & Company LLC reissued a “buy” rating and set a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Cantor Fitzgerald lifted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Piper Sandler lifted their price target on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $91.72.

Insider Buying and Selling

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $21,963,504.15. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now directly owns 185,386 shares in the company, valued at $15,114,520.58. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 477,043 shares of company stock valued at $39,737,342. 12.83% of the stock is owned by insiders.

Cloudflare Trading Up 5.4 %

Shares of NYSE:NET opened at $92.49 on Thursday. The stock’s 50-day simple moving average is $84.30 and its two-hundred day simple moving average is $80.59. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of -318.93 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $61.34 and a 52-week high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

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.