Cloudflare, Inc. $NET Stake Reduced by Alfreton Capital LLP

Alfreton Capital LLP lessened its stake in shares of Cloudflare, Inc. (NYSE:NET) by 7.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 400,000 shares of the company’s stock after selling 30,000 shares during the quarter. Cloudflare accounts for 22.7% of Alfreton Capital LLP’s investment portfolio, making the stock its 2nd biggest position. Alfreton Capital LLP owned 0.11% of Cloudflare worth $78,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 41,555 shares of the company’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the completion of the transaction, the chief financial officer owned 189,517 shares in the company, valued at approximately $36,129,520.88. This represents a 17.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michelle Zatlyn sold 35,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the completion of the sale, the insider owned 14,575 shares in the company, valued at $2,794,173.25. The trade was a 70.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 585,676 shares of company stock worth $122,718,003. Insiders own 10.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Jefferies Financial Group started coverage on shares of Cloudflare in a research note on Friday, October 31st. They set a “hold” rating and a $250.00 price target on the stock. Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Cantor Fitzgerald boosted their price target on Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Robert W. Baird set a $220.00 price target on Cloudflare in a report on Friday, October 31st. Finally, Guggenheim restated a “sell” rating on shares of Cloudflare in a research note on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $235.35.

Cloudflare Price Performance

Shares of NET opened at $210.74 on Monday. Cloudflare, Inc. has a 12 month low of $87.77 and a 12 month high of $260.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a fifty day moving average price of $222.05 and a 200 day moving average price of $196.05. The company has a market cap of $73.82 billion, a P/E ratio of -702.47 and a beta of 2.10.

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.