Police & Firemen s Retirement System of New Jersey Raises Holdings in Cloudflare, Inc. $NET

Police & Firemen s Retirement System of New Jersey lifted its position in shares of Cloudflare, Inc. (NYSE:NET) by 5.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,897 shares of the company’s stock after buying an additional 2,486 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Cloudflare were worth $9,184,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Wealthedge Investment Advisors LLC raised its stake in Cloudflare by 64.5% in the first quarter. Wealthedge Investment Advisors LLC now owns 12,132 shares of the company’s stock worth $1,367,000 after buying an additional 4,755 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock valued at $342,287,000 after acquiring an additional 779,819 shares during the period. Motley Fool Asset Management LLC raised its position in shares of Cloudflare by 10.5% in the 2nd quarter. Motley Fool Asset Management LLC now owns 17,752 shares of the company’s stock worth $3,476,000 after acquiring an additional 1,691 shares in the last quarter. Independent Solutions Wealth Management LLC lifted its stake in shares of Cloudflare by 293.3% during the 2nd quarter. Independent Solutions Wealth Management LLC now owns 15,059 shares of the company’s stock worth $2,949,000 after purchasing an additional 11,230 shares during the last quarter. Finally, Castle Rock Wealth Management LLC lifted its stake in shares of Cloudflare by 10.5% during the 2nd quarter. Castle Rock Wealth Management LLC now owns 12,943 shares of the company’s stock worth $2,568,000 after purchasing an additional 1,229 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Stifel Nicolaus lifted their target price on Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Argus lifted their price objective on shares of Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research report on Monday. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $199.00 to $224.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Susquehanna raised their target price on shares of Cloudflare from $205.00 to $260.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Finally, KeyCorp lifted their price target on shares of Cloudflare from $235.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $235.35.

Cloudflare Price Performance

Shares of NET opened at $213.58 on Friday. 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 company’s fifty day moving average price is $222.12 and its 200-day moving average price is $194.39. Cloudflare, Inc. has a 1-year low of $87.77 and a 1-year high of $260.00. The firm has a market capitalization of $74.81 billion, a PE ratio of -711.93 and a beta of 2.10.

Insider Buying and Selling at Cloudflare

In other news, Director Mark J. Hawkins sold 1,000 shares of the stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $254.15, for a total value of $254,150.00. Following the transaction, the director directly owned 10,990 shares of the company’s stock, valued at approximately $2,793,108.50. This represents a 8.34% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 3rd. The stock was sold at an average price of $255.53, for a total value of $766,590.00. Following the completion of the transaction, the insider owned 129,185 shares of the company’s stock, valued at approximately $33,010,643.05. The trade was a 2.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 638,060 shares of company stock worth $133,217,328. 10.89% of the stock is owned by corporate insiders.

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.