Cloudflare, Inc. (NYSE:NET) Shares Sold by SW Investment Management LLC

SW Investment Management LLC lowered its stake in Cloudflare, Inc. (NYSE:NETFree Report) by 21.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 550,000 shares of the company’s stock after selling 150,000 shares during the period. Cloudflare accounts for about 15.4% of SW Investment Management LLC’s holdings, making the stock its 3rd biggest holding. SW Investment Management LLC’s holdings in Cloudflare were worth $34,672,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Gotham Asset Management LLC bought a new position in Cloudflare in the third quarter valued at approximately $580,000. Bamco Inc. NY lifted its stake in Cloudflare by 0.8% in the third quarter. Bamco Inc. NY now owns 939,529 shares of the company’s stock valued at $59,228,000 after buying an additional 7,086 shares in the last quarter. Private Advisory Group LLC lifted its stake in Cloudflare by 1.2% in the third quarter. Private Advisory Group LLC now owns 31,888 shares of the company’s stock valued at $2,010,000 after buying an additional 375 shares in the last quarter. Treasurer of the State of North Carolina lifted its position in shares of Cloudflare by 0.4% in the third quarter. Treasurer of the State of North Carolina now owns 129,801 shares of the company’s stock worth $8,183,000 after purchasing an additional 530 shares in the last quarter. Finally, Trexquant Investment LP bought a new stake in shares of Cloudflare in the third quarter worth $1,615,000. Institutional investors own 73.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NET shares. Piper Sandler cut their price objective on shares of Cloudflare from $64.00 to $60.00 and set a “neutral” rating on the stock in a research report on Friday, November 3rd. JPMorgan Chase & Co. boosted their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research report on Tuesday, February 13th. Finally, Needham & Company LLC boosted their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $87.50.

Check Out Our Latest Report on NET

Cloudflare Stock Performance

Shares of NYSE:NET traded down $0.73 on Wednesday, hitting $97.52. The company had a trading volume of 2,520,626 shares, compared to its average volume of 4,640,732. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The stock has a market cap of $32.74 billion, a price-to-earnings ratio of -178.63 and a beta of 1.10. The stock has a 50 day moving average price of $86.53 and a 200 day moving average price of $73.13. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $98.75, for a total value of $5,172,920.00. Following the transaction, the chief executive officer now directly owns 12,183 shares in the company, valued at $1,203,071.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, General Counsel Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $77.77, for a total value of $233,310.00. Following the transaction, the general counsel now directly owns 154,629 shares in the company, valued at $12,025,497.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $98.75, for a total transaction of $5,172,920.00. Following the sale, the chief executive officer now owns 12,183 shares in the company, valued at $1,203,071.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,088,215 shares of company stock worth $97,991,557. Corporate insiders own 14.80% of the company’s stock.

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, script management, security center, and rate limiting products.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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