Harbor Capital Advisors Inc. Sells 7,935 Shares of Cloudflare, Inc. (NYSE:NET)

Harbor Capital Advisors Inc. trimmed its stake in shares of Cloudflare, Inc. (NYSE:NET) by 37.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,070 shares of the company’s stock after selling 7,935 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Cloudflare were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of NET. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. CVA Family Office LLC boosted its position in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the period. Quarry LP grew its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare in the second quarter valued at about $29,000. Finally, Versant Capital Management Inc raised 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 acquiring an additional 421 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NET. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target on the stock. Mizuho boosted their target price on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Cantor Fitzgerald raised their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Finally, Guggenheim raised their target price on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $91.72.

Cloudflare Price Performance

Shares of NYSE NET opened at $92.49 on Thursday. The firm has a market cap of $31.60 billion, a P/E ratio of -318.93 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $61.34 and a twelve month high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a 50 day moving average of $84.30 and a 200 day moving average of $80.59.

Insider Transactions at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, November 4th. The stock was sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $24,422,966.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00. Following the sale, the insider now directly owns 185,386 shares in the company, valued at approximately $15,114,520.58. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 477,043 shares of company stock worth $39,737,342 over the last quarter. 12.83% of the stock is currently owned by insiders.

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.