New York State Common Retirement Fund Sells 35,400 Shares of Cloudflare, Inc. (NYSE:NET)

New York State Common Retirement Fund cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 16.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 185,663 shares of the company’s stock after selling 35,400 shares during the period. New York State Common Retirement Fund’s holdings in Cloudflare were worth $15,018,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CVA Family Office LLC boosted its stake in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new position in shares of Cloudflare during the second quarter valued at approximately $29,000. Quarry LP boosted its stake in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake 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 valued at $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the sale, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $78.05, for a total transaction of $1,170,750.00. Following the sale, the chief financial officer now owns 281,403 shares in the company, valued at approximately $21,963,504.15. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80. Following the sale, the chief operating officer now owns 192,177 shares in the company, valued at approximately $14,632,356.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 529,427 shares of company stock worth $43,755,195. 12.83% of the stock is owned by company insiders.

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. Susquehanna increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Finally, Cantor Fitzgerald raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating 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 given a buy rating to the stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Trading Up 1.4 %

Shares of Cloudflare stock opened at $87.68 on Wednesday. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a fifty day moving average price of $84.05 and a 200 day moving average price of $80.50. Cloudflare, Inc. has a 1 year low of $61.34 and a 1 year high of $116.00. The stock has a market cap of $29.96 billion, a PE ratio of -302.34 and a beta of 1.10.

Cloudflare 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.