Swiss National Bank Sells 99,900 Shares of Cloudflare, Inc. (NYSE:NET)

Swiss National Bank cut its holdings in Cloudflare, Inc. (NYSE:NETFree Report) by 10.1% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 884,700 shares of the company’s stock after selling 99,900 shares during the quarter. Swiss National Bank owned approximately 0.26% of Cloudflare worth $55,771,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the business. Amalgamated Bank boosted its stake in Cloudflare by 20.6% in the third quarter. Amalgamated Bank now owns 37,879 shares of the company’s stock valued at $2,388,000 after buying an additional 6,470 shares in the last quarter. Kestra Private Wealth Services LLC bought a new position in Cloudflare in the 3rd quarter valued at approximately $228,000. Van Hulzen Asset Management LLC boosted its position in Cloudflare by 205.2% during the 3rd quarter. Van Hulzen Asset Management LLC now owns 13,784 shares of the company’s stock worth $869,000 after buying an additional 9,268 shares during the period. Metis Global Partners LLC grew its holdings in Cloudflare by 13.4% during the 3rd quarter. Metis Global Partners LLC now owns 4,395 shares of the company’s stock worth $277,000 after acquiring an additional 519 shares during the last quarter. Finally, Executive Wealth Management LLC increased its position in Cloudflare by 9.9% in the 3rd quarter. Executive Wealth Management LLC now owns 23,441 shares of the company’s stock valued at $1,478,000 after acquiring an additional 2,118 shares during the period. 73.14% of the stock is owned by institutional investors and hedge funds.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $81.60 on Wednesday. The stock has a fifty day simple moving average of $80.95 and a 200 day simple moving average of $69.69. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $87.17. The company has a current ratio of 3.89, a quick ratio of 3.89 and a debt-to-equity ratio of 1.83.

Insider Buying and Selling

In other Cloudflare news, Director Carl Ledbetter sold 30,251 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $74.37, for a total value of $2,249,766.87. Following the transaction, the director now owns 1,657,869 shares of the company’s stock, valued at $123,295,717.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Monday, November 13th. The stock was sold at an average price of $63.48, for a total value of $3,325,336.32. Following the transaction, the chief executive officer now owns 269,047 shares of the company’s stock, valued at $17,079,103.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Carl Ledbetter sold 30,251 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $74.37, for a total value of $2,249,766.87. Following the completion of the transaction, the director now directly owns 1,657,869 shares in the company, valued at approximately $123,295,717.53. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 933,442 shares of company stock worth $71,314,680. 14.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Wells Fargo & Company increased their price target on Cloudflare from $72.00 to $95.00 and gave the company an “overweight” rating in a research note on Monday, January 29th. Capital One Financial assumed coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target on the stock. 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. JMP Securities upped their price target on shares of Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Morgan Stanley lifted their price objective on Cloudflare from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, November 7th. Four analysts have rated the stock with a sell rating, seven have assigned a hold rating and ten 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 $70.55.

View Our Latest Stock Report on Cloudflare

Cloudflare Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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