IQ EQ FUND MANAGEMENT IRELAND Ltd Purchases 16,013 Shares of Cloudflare, Inc. $NET

IQ EQ FUND MANAGEMENT IRELAND Ltd raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 35.6% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 60,985 shares of the company’s stock after purchasing an additional 16,013 shares during the quarter. Cloudflare accounts for about 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s investment portfolio, making the stock its 24th biggest holding. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Cloudflare were worth $13,087,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in NET. Physician Wealth Advisors Inc. raised its holdings in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after acquiring an additional 104 shares during the last quarter. Westside Investment Management Inc. raised its stake in shares of Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares during the last quarter. ORG Wealth Partners LLC raised its stake in shares of Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new position in shares of Cloudflare during the second quarter valued at $29,000. Finally, Harbor Investment Advisory LLC purchased a new stake in shares of Cloudflare during the third quarter valued at $32,000. Institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Down 2.3%

NYSE NET opened at $163.04 on Friday. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $57.11 billion, a P/E ratio of -543.48, a price-to-earnings-growth ratio of 144.65 and a beta of 1.97. The stock’s 50-day moving average price is $192.45 and its 200-day moving average price is $205.24.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $195.32, for a total value of $10,231,642.88. Following the completion of the transaction, the chief executive officer directly owned 22,175 shares in the company, valued at $4,331,221. This represents a 70.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $194.18, for a total value of $8,069,149.90. Following the transaction, the chief financial officer owned 137,486 shares of the company’s stock, valued at $26,697,031.48. This represents a 23.21% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 630,827 shares of company stock valued at $124,436,992 over the last 90 days. 10.89% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NET has been the subject of a number of recent analyst reports. BTIG Research raised Cloudflare from a “neutral” rating to a “buy” rating and set a $199.00 target price for the company in a research report on Wednesday. Mizuho lowered their price objective on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. Truist Financial set a $225.00 target price on shares of Cloudflare in a research report on Tuesday, January 20th. Barclays began coverage on shares of Cloudflare in a research note on Tuesday, December 2nd. They set an “overweight” rating and a $235.00 target price for the company. Finally, Royal Bank Of Canada restated an “outperform” rating on shares of Cloudflare in a research note on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $229.86.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.