Cloudflare, Inc. $NET Stake Raised by Allianz Asset Management GmbH

Allianz Asset Management GmbH lifted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 322.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 65,182 shares of the company’s stock after acquiring an additional 49,749 shares during the period. Allianz Asset Management GmbH’s holdings in Cloudflare were worth $13,987,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. ORG Wealth Partners LLC raised its stake in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Cloudflare during the second quarter valued at $29,000. Harbor Investment Advisory LLC bought a new stake in shares of Cloudflare during the third quarter valued at about $32,000. Cloud Capital Management LLC bought a new stake in shares of Cloudflare during the third quarter valued at about $31,000. Finally, Stone House Investment Management LLC lifted its holdings in Cloudflare by 700.0% in the third quarter. Stone House Investment Management LLC now owns 160 shares of the company’s stock worth $34,000 after purchasing an additional 140 shares during the period. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NET has been the topic of several research analyst reports. DZ Bank raised shares of Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price on the stock in a research note on Wednesday, November 5th. BTIG Research upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and set a $199.00 price objective on the stock in a research note on Wednesday. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, January 21st. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Cloudflare in a research note on Tuesday, January 27th. Finally, Wells Fargo & Company boosted their price objective on Cloudflare from $250.00 to $265.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and an average price target of $234.11.

Cloudflare Trading Up 6.2%

Cloudflare stock opened at $173.16 on Friday. The firm has a market cap of $60.65 billion, a price-to-earnings ratio of -577.20, a price-to-earnings-growth ratio of 150.14 and a beta of 1.97. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The firm’s 50 day moving average price is $191.91 and its two-hundred day moving average price is $205.17. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04.

Insider Buying and Selling at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction on Tuesday, January 27th. The stock was sold at an average price of $211.16, for a total value of $3,167,400.00. Following the transaction, the director directly owned 953,073 shares in the company, valued at $201,250,894.68. The trade was a 1.55% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction on Tuesday, January 20th. The stock was sold at an average price of $178.37, for a total value of $1,783,700.00. Following the sale, the chief financial officer directly owned 137,486 shares in the company, valued at $24,523,377.82. This trade represents a 6.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 630,827 shares of company stock worth $124,436,992. 10.89% of the stock is owned by insiders.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.