Creative Planning Purchases 13,793 Shares of Cloudflare, Inc. $NET

Creative Planning boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 30.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 59,061 shares of the company’s stock after purchasing an additional 13,793 shares during the period. Creative Planning’s holdings in Cloudflare were worth $11,566,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NET. Quaker Wealth Management LLC lifted its position in shares of Cloudflare by 218.6% during the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock worth $33,000 after buying an additional 306 shares during the last quarter. Hilltop National Bank bought a new position in Cloudflare in the second quarter valued at about $36,000. Ameritas Advisory Services LLC acquired a new position in Cloudflare during the second quarter worth about $39,000. Cullen Frost Bankers Inc. bought a new position in shares of Cloudflare in the second quarter worth about $45,000. Finally, Whipplewood Advisors LLC boosted its stake in shares of Cloudflare by 277.6% in the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after purchasing an additional 186 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $196.54 on Wednesday. The stock has a market cap of $68.85 billion, a price-to-earnings ratio of -655.15 and a beta of 2.10. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company’s fifty day moving average is $221.30 and its 200 day moving average is $197.12. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Insider Transactions at Cloudflare

In other news, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $250.83, for a total transaction of $632,091.60. Following the completion of the transaction, the director directly owned 495,191 shares in the company, valued at $124,208,758.53. This trade represents a 0.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Janel Riley sold 3,488 shares of Cloudflare stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $196.51, for a total value of $685,426.88. Following the completion of the transaction, the chief accounting officer directly owned 56,144 shares in the company, valued at approximately $11,032,857.44. This represents a 5.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 510,225 shares of company stock worth $108,621,381. 10.89% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NET shares. KeyCorp increased their price objective on shares of Cloudflare from $235.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, October 31st. UBS Group upped their price target on shares of Cloudflare from $240.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. DZ Bank raised Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price objective on the stock in a report on Wednesday, November 5th. Bank of America increased their target price on Cloudflare from $235.00 to $240.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Citizens Jmp lifted their price target on Cloudflare from $250.00 to $270.00 and gave the company a “market outperform” rating in a research note on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $235.35.

Cloudflare Company Profile

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.