Nomura Asset Management Co. Ltd. Buys 10,947 Shares of Cloudflare, Inc. $NET

Nomura Asset Management Co. Ltd. boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 10.6% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 113,961 shares of the company’s stock after buying an additional 10,947 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Cloudflare were worth $22,317,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Jefferies Financial Group began coverage on Cloudflare in a research report on Friday, October 31st. They set a “hold” rating and a $250.00 target price for the company. Bank of America raised their price target on Cloudflare from $235.00 to $240.00 and gave the stock a “buy” rating in a research note on Friday, August 1st. UBS Group boosted their price objective on Cloudflare from $240.00 to $245.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Stifel Nicolaus increased their target price on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, JMP Securities set a $270.00 target price on shares of Cloudflare in a research note on Friday, October 31st. One research 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $235.35.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $255.53, for a total transaction of $766,590.00. Following the transaction, the insider directly owned 129,185 shares in the company, valued at $33,010,643.05. This represents a 2.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Carl Ledbetter sold 15,000 shares of the firm’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $207.96, for a total transaction of $3,119,400.00. Following the transaction, the director directly owned 983,073 shares in the company, valued at $204,439,861.08. This trade represents a 1.50% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 510,225 shares of company stock valued at $108,621,381 over the last three months. 10.89% of the stock is currently owned by corporate insiders.

Cloudflare Price Performance

Shares of NET stock opened at $196.54 on Wednesday. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $221.30 and a two-hundred day simple moving average of $197.12. The stock has a market capitalization of $68.85 billion, a price-to-earnings ratio of -655.15 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.