Advisory Resource Group Decreases Position in Cloudflare, Inc. $NET

Advisory Resource Group cut its position in Cloudflare, Inc. (NYSE:NET) by 21.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,932 shares of the company’s stock after selling 1,863 shares during the quarter. Advisory Resource Group’s holdings in Cloudflare were worth $1,357,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Buying and Selling

In other news, Director John Graham-Cumming sold 2,520 shares of the firm’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $250.83, for a total transaction of $632,091.60. Following the completion of the transaction, the director owned 495,191 shares in the company, valued at approximately $124,208,758.53. This trade represents a 0.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark J. Hawkins sold 1,000 shares of the stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $254.15, for a total value of $254,150.00. Following the sale, the director owned 10,990 shares of the company’s stock, valued at $2,793,108.50. This trade represents a 8.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 638,060 shares of company stock worth $133,217,328 in the last ninety days. Insiders own 10.89% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of several research reports. Stifel Nicolaus upped their price objective on Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. KeyCorp boosted their price target on Cloudflare from $235.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Scotiabank raised their price objective on Cloudflare from $200.00 to $225.00 and gave the stock a “sector perform” rating in a research note on Friday, October 31st. UBS Group lifted their price objective on shares of Cloudflare from $240.00 to $245.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Needham & Company LLC boosted their target price on shares of Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $235.35.

Cloudflare Stock Down 1.3%

NET stock opened at $210.74 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $73.82 billion, a price-to-earnings ratio of -702.47 and a beta of 2.10. The firm’s 50-day moving average is $222.05 and its two-hundred day moving average is $195.01. Cloudflare, Inc. has a 52 week low of $87.77 and a 52 week high of $260.00.

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.