IQ EQ FUND MANAGEMENT IRELAND Ltd Raises Stock Position in Cloudflare, Inc. $NET

IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 35.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,985 shares of the company’s stock after acquiring an additional 16,013 shares during the period. Cloudflare comprises about 0.9% of IQ EQ FUND MANAGEMENT IRELAND Ltd’s portfolio, making the stock its 24th largest position. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Cloudflare were worth $13,087,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Physician Wealth Advisors Inc. raised its position in shares of 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 in the last quarter. Westside Investment Management Inc. lifted its position in shares of Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares during the last quarter. ORG Wealth Partners LLC grew its position in shares of Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after buying an additional 70 shares during the last quarter. Twin Peaks Wealth Advisors LLC purchased a new stake in Cloudflare during the second quarter valued at approximately $29,000. Finally, Harbor Investment Advisory LLC acquired a new stake in Cloudflare in the third quarter valued at approximately $32,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on NET shares. Royal Bank Of Canada restated an “outperform” rating on shares of Cloudflare in a research note on Tuesday, January 27th. DZ Bank raised shares of Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price objective on the stock in a report on Wednesday, November 5th. UBS Group dropped their price target on Cloudflare from $245.00 to $210.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 13th. Oppenheimer started coverage on Cloudflare in a report on Monday, November 10th. They set an “outperform” rating and a $260.00 target price for the company. Finally, Susquehanna raised their price target on shares of Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a research report on Monday, November 3rd. One equities research 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. According to MarketBeat, Cloudflare presently has an average rating of “Moderate Buy” and an average target price of $229.86.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $176.19, for a total transaction of $528,570.00. Following the completion of the sale, the insider owned 101,101 shares of the company’s stock, valued at $17,812,985.19. The trade was a 2.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Carl Ledbetter sold 15,000 shares of the stock in a transaction that occurred on Tuesday, January 27th. The shares were sold at an average price of $211.16, for a total value of $3,167,400.00. Following the transaction, the director directly owned 953,073 shares of the company’s stock, valued at $201,250,894.68. The trade was a 1.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 630,827 shares of company stock valued at $124,436,992 in the last 90 days. Corporate insiders own 10.89% of the company’s stock.

Cloudflare Stock Down 2.3%

NET stock opened at $163.04 on Friday. The firm’s fifty day moving average is $192.45 and its 200 day moving average is $205.24. The firm has a market cap of $57.11 billion, a PE ratio of -543.48, a P/E/G ratio of 144.65 and a beta of 1.97. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04.

About Cloudflare

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.