Cloudflare (NYSE:NET) Given New $125.00 Price Target at Wells Fargo & Company

Cloudflare (NYSE:NETFree Report) had its price objective raised by Wells Fargo & Company from $95.00 to $125.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also recently commented on NET. Morgan Stanley upped their price objective on Cloudflare from $55.00 to $60.00 and gave the company an equal weight rating in a report on Tuesday, November 7th. Needham & Company LLC upped their price objective on Cloudflare from $110.00 to $135.00 and gave the stock a buy rating in a research report on Friday. JMP Securities upped their price objective on Cloudflare from $75.00 to $90.00 and gave the stock a market outperform rating in a research report on Wednesday, January 31st. Sanford C. Bernstein initiated coverage on Cloudflare in a research report on Thursday, January 18th. They set a market perform rating and a $85.00 price objective on the stock. Finally, KeyCorp upped their price objective on Cloudflare from $70.00 to $94.00 and gave the stock an overweight rating in a research report on Thursday, January 18th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of Hold and an average target price of $85.13.

View Our Latest Stock Analysis on Cloudflare

Cloudflare Stock Up 19.4 %

Shares of Cloudflare stock opened at $107.81 on Friday. The stock’s 50 day simple moving average is $81.90 and its 200-day simple moving average is $70.23. Cloudflare has a 1-year low of $39.90 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.83, a quick ratio of 3.89 and a current ratio of 3.89.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 400 shares of the firm’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $80.00, for a total value of $32,000.00. Following the completion of the sale, the chief financial officer now owns 243,495 shares in the company, valued at $19,479,600. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 400 shares of the stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $80.00, for a total value of $32,000.00. Following the completion of the transaction, the chief financial officer now directly owns 243,495 shares of the company’s stock, valued at $19,479,600. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Carl Ledbetter sold 66,384 shares of the stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $86.88, for a total transaction of $5,767,441.92. Following the completion of the transaction, the director now directly owns 1,472,932 shares of the company’s stock, valued at $127,968,332.16. The disclosure for this sale can be found here. Insiders sold a total of 941,404 shares of company stock worth $71,962,946 over the last 90 days. Company insiders own 14.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in shares of Cloudflare by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after purchasing an additional 395,363 shares in the last quarter. Capital World Investors boosted its position in Cloudflare by 56.7% during the second quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock worth $1,727,949,000 after acquiring an additional 9,560,273 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its position in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after acquiring an additional 6,068,873 shares during the last quarter. State Street Corp boosted its position in Cloudflare by 5.3% during the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after acquiring an additional 278,422 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Cloudflare by 4.1% during the second quarter. Geode Capital Management LLC now owns 3,953,754 shares of the company’s stock worth $258,029,000 after acquiring an additional 156,172 shares during the last quarter. 73.14% of the stock is owned by hedge funds and other institutional investors.

About Cloudflare

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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.

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