Profund Advisors LLC Buys 1,538 Shares of Cloudflare, Inc. (NYSE:NET)

Profund Advisors LLC increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 7.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,731 shares of the company’s stock after buying an additional 1,538 shares during the period. Profund Advisors LLC’s holdings in Cloudflare were worth $1,421,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare during the first quarter worth approximately $29,000. Alta Advisers Ltd bought a new stake in shares of Cloudflare during the second quarter worth approximately $39,000. Providence Capital Advisors LLC raised its stake in shares of Cloudflare by 6,065.0% during the first quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after buying an additional 2,426 shares during the last quarter. Richard W. Paul & Associates LLC raised its stake in shares of Cloudflare by 172.1% during the second quarter. Richard W. Paul & Associates LLC now owns 721 shares of the company’s stock worth $47,000 after buying an additional 456 shares during the last quarter. Finally, Independence Bank of Kentucky bought a new stake in shares of Cloudflare during the second quarter worth approximately $58,000. 73.14% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $64.53, for a total value of $967,950.00. Following the completion of the transaction, the chief financial officer now owns 253,352 shares of the company’s stock, valued at approximately $16,348,804.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $64.53, for a total transaction of $967,950.00. Following the transaction, the chief financial officer now directly owns 253,352 shares of the company’s stock, valued at approximately $16,348,804.56. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carl Ledbetter sold 8,030 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $59.35, for a total value of $476,580.50. Following the sale, the director now directly owns 1,856,810 shares of the company’s stock, valued at approximately $110,201,673.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 585,083 shares of company stock valued at $36,909,929. 14.80% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on NET shares. Bank of America started coverage on shares of Cloudflare in a research note on Thursday, September 7th. They set an “underperform” rating and a $52.00 price target for the company. Royal Bank of Canada lowered their target price on shares of Cloudflare from $70.00 to $65.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Piper Sandler lowered their target price on shares of Cloudflare from $64.00 to $60.00 and set a “neutral” rating for the company in a research note on Friday, November 3rd. Robert W. Baird upped their target price on shares of Cloudflare from $64.00 to $75.00 in a research note on Friday, July 28th. Finally, Wells Fargo & Company upped their target price on shares of Cloudflare from $55.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $64.24.

Cloudflare Trading Up 0.2 %

NYSE NET opened at $72.80 on Tuesday. Cloudflare, Inc. has a 12 month low of $37.56 and a 12 month high of $76.07. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.83. The stock has a 50 day moving average of $62.04 and a 200-day moving average of $62.78. The company has a market cap of $24.44 billion, a PE ratio of -119.34 and a beta of 0.97.

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, secure origin connection, and rate limiting products.