Chicago Partners Investment Group LLC Takes Position in Cloudflare, Inc. (NYSE:NET)

Chicago Partners Investment Group LLC bought a new position in Cloudflare, Inc. (NYSE:NET) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,424 shares of the company’s stock, valued at approximately $212,000.

A number of other hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. First Trust Direct Indexing L.P. bought a new position in Cloudflare during the first quarter valued at $295,000. Private Advisor Group LLC grew its stake in shares of Cloudflare by 22.0% in the 1st quarter. Private Advisor Group LLC now owns 18,662 shares of the company’s stock worth $1,807,000 after buying an additional 3,362 shares in the last quarter. Sequoia Financial Advisors LLC bought a new stake in shares of Cloudflare in the 1st quarter worth about $239,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Cloudflare by 13.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,185 shares of the company’s stock valued at $4,340,000 after buying an additional 5,392 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Stock Up 1.4 %

Shares of Cloudflare stock opened at $87.68 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The stock has a market cap of $29.96 billion, a price-to-earnings ratio of -302.34 and a beta of 1.10. The firm’s 50-day moving average is $84.05 and its two-hundred day moving average is $80.50. Cloudflare, Inc. has a 1 year low of $61.34 and a 1 year high of $116.00.

Analyst Ratings Changes

Several research analysts recently commented on NET shares. Mizuho lifted their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Piper Sandler increased their price target on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada raised their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Finally, Guggenheim boosted their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $91.72.

Insider Transactions at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CAO Janel Riley sold 3,495 shares of Cloudflare stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $81.65, for a total value of $285,366.75. Following the transaction, the chief accounting officer now owns 80,183 shares of the company’s stock, valued at $6,546,941.95. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 529,427 shares of company stock valued at $43,755,195. Company insiders own 12.83% of the company’s stock.

About Cloudflare

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.