Forsta AP Fonden Sells 22,700 Shares of Cloudflare, Inc. (NYSE:NET)

Forsta AP Fonden trimmed its position in Cloudflare, Inc. (NYSE:NETGet Rating) by 28.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 55,900 shares of the company’s stock after selling 22,700 shares during the period. Forsta AP Fonden’s holdings in Cloudflare were worth $2,446,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of NET. National Asset Management Inc. raised its position in shares of Cloudflare by 20.2% in the 1st quarter. National Asset Management Inc. now owns 4,633 shares of the company’s stock valued at $555,000 after acquiring an additional 779 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of Cloudflare by 53.0% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,876 shares of the company’s stock valued at $225,000 after acquiring an additional 650 shares during the period. State of New Jersey Common Pension Fund D raised its position in shares of Cloudflare by 10.7% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 154,415 shares of the company’s stock valued at $18,483,000 after acquiring an additional 14,973 shares during the period. Sterling Investment Advisors Ltd. raised its position in shares of Cloudflare by 12.8% in the 1st quarter. Sterling Investment Advisors Ltd. now owns 2,268 shares of the company’s stock valued at $271,000 after acquiring an additional 258 shares during the period. Finally, Lyell Wealth Management LP raised its position in shares of Cloudflare by 18.9% in the 1st quarter. Lyell Wealth Management LP now owns 19,364 shares of the company’s stock valued at $2,318,000 after acquiring an additional 3,076 shares during the period. 71.69% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NET. Royal Bank of Canada cut their price target on shares of Cloudflare from $74.00 to $60.00 and set an “outperform” rating on the stock in a research report on Friday, November 4th. KeyCorp dropped their target price on shares of Cloudflare from $98.00 to $59.00 and set an “overweight” rating on the stock in a report on Friday, November 4th. Macquarie initiated coverage on shares of Cloudflare in a report on Wednesday, November 2nd. They set a “neutral” rating and a $60.00 target price on the stock. JMP Securities dropped their target price on shares of Cloudflare from $150.00 to $90.00 and set a “market outperform” rating on the stock in a report on Friday, November 4th. Finally, Morgan Stanley dropped their target price on shares of Cloudflare from $76.00 to $52.00 and set an “equal weight” rating on the stock in a report on Monday, November 7th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.84.

Insiders Place Their Bets

In other Cloudflare news, General Counsel Douglas James Kramer sold 4,500 shares of Cloudflare stock in a transaction on Friday, November 11th. The shares were sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the transaction, the general counsel now directly owns 55,644 shares of the company’s stock, valued at $2,782,200. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, General Counsel Douglas James Kramer sold 4,500 shares of Cloudflare stock in a transaction on Friday, November 11th. The stock was sold at an average price of $50.00, for a total transaction of $225,000.00. Following the completion of the sale, the general counsel now owns 55,644 shares of the company’s stock, valued at $2,782,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.98, for a total value of $3,456,296.32. The disclosure for this sale can be found here. Insiders sold a total of 393,304 shares of company stock valued at $21,954,778 over the last ninety days. 15.99% of the stock is currently owned by company insiders.

Cloudflare Stock Down 2.9 %

NET stock opened at $47.01 on Monday. The company has a quick ratio of 5.35, a current ratio of 5.35 and a debt-to-equity ratio of 2.42. The company has a fifty day moving average price of $53.88 and a two-hundred day moving average price of $55.45. Cloudflare, Inc. has a one year low of $37.37 and a one year high of $220.79.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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