Savant Capital LLC Purchases 512 Shares of Cloudflare, Inc. $NET

Savant Capital LLC increased its position in Cloudflare, Inc. (NYSE:NET) by 20.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,068 shares of the company’s stock after purchasing an additional 512 shares during the quarter. Savant Capital LLC’s holdings in Cloudflare were worth $601,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quaker Wealth Management LLC lifted its stake in shares of Cloudflare by 218.6% in the 2nd quarter. Quaker Wealth Management LLC now owns 166 shares of the company’s stock valued at $33,000 after purchasing an additional 306 shares during the period. Hilltop National Bank acquired a new position in Cloudflare in the second quarter valued at about $36,000. Ameritas Advisory Services LLC bought a new position in Cloudflare during the second quarter worth about $39,000. Cullen Frost Bankers Inc. acquired a new position in shares of Cloudflare during the 2nd quarter worth about $45,000. Finally, Whipplewood Advisors LLC raised its position in shares of Cloudflare by 277.6% in the 2nd quarter. Whipplewood Advisors LLC now owns 253 shares of the company’s stock valued at $50,000 after acquiring an additional 186 shares during the period. 82.68% of the stock is owned by institutional investors.

Cloudflare Stock Performance

Shares of NET opened at $210.74 on Friday. The stock has a market capitalization of $73.82 billion, a price-to-earnings ratio of -702.47 and a beta of 2.10. Cloudflare, Inc. has a 12 month low of $87.77 and a 12 month high of $260.00. The firm has a fifty day simple moving average of $222.05 and a 200 day simple moving average of $195.01. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46.

Wall Street Analysts Forecast Growth

Several brokerages have commented on NET. DZ Bank raised shares of Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 target price for the company in a research note on Wednesday, November 5th. Guggenheim restated a “sell” rating on shares of Cloudflare in a research report on Tuesday, October 21st. Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. Jefferies Financial Group initiated coverage on Cloudflare in a report on Friday, October 31st. They issued a “hold” rating and a $250.00 price target for the company. Finally, Citigroup lifted their price objective on Cloudflare from $255.00 to $318.00 and gave the company a “buy” rating in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $235.35.

Insider Activity

In other news, CFO Thomas J. Seifert sold 41,555 shares of the stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $190.64, for a total value of $7,922,045.20. Following the completion of the sale, the chief financial officer owned 189,517 shares of the company’s stock, valued at approximately $36,129,520.88. This represents a 17.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,100 shares of the company’s stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total transaction of $6,729,021.00. Following the sale, the insider directly owned 14,575 shares in the company, valued at $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. 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 quarter. Corporate insiders own 10.89% of the company’s stock.

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.