Allspring Global Investments Holdings LLC Has $80,000 Stock Position in Cloudflare, Inc. (NYSE:NET)

Allspring Global Investments Holdings LLC boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 13.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 987 shares of the company’s stock after buying an additional 119 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Cloudflare were worth $80,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare during the 2nd quarter worth approximately $29,000. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares during the period. Finally, Blue Trust Inc. raised its position in Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after buying an additional 752 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Down 1.2 %

Shares of NET opened at $86.49 on Tuesday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The company’s fifty day moving average is $83.92 and its 200 day moving average is $80.48. The stock has a market capitalization of $29.55 billion, a PE ratio of -298.24 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $116.00.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction 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 completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction dated Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $14,632,356.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,427 shares of company stock valued at $43,755,195 over the last three months. 12.83% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NET shares. Wolfe Research initiated coverage on Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Royal Bank of Canada lifted their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Robert W. Baird lifted their price objective on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Cantor Fitzgerald increased their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average target price of $91.72.

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.