Cloudflare, Inc. (NYSE:NET) Shares Purchased by Trexquant Investment LP

Trexquant Investment LP grew its stake in shares of Cloudflare, Inc. (NYSE:NET) by 127.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 260,210 shares of the company’s stock after purchasing an additional 145,942 shares during the quarter. Trexquant Investment LP owned approximately 0.08% of Cloudflare worth $28,019,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Hartline Investment Corp lifted its stake in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after buying an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC bought a new stake in Cloudflare in the 4th quarter valued at about $215,000. Strategic Blueprint LLC acquired a new position in shares of Cloudflare during the fourth quarter worth approximately $265,000. Clarendon Private LLC acquired a new position in Cloudflare during the 4th quarter worth $293,000. Finally, Savant Capital LLC bought a new position in Cloudflare in the 4th quarter valued at about $237,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Down 1.9 %

NET stock opened at $112.77 on Tuesday. The business has a fifty day moving average price of $137.39 and a 200 day moving average price of $112.03. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market capitalization of $38.91 billion, a price-to-earnings ratio of -512.57 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the completion of the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at $48,509,881.42. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. The trade was a 5.48 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 618,046 shares of company stock valued at $80,142,792. Company insiders own 12.83% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on NET. Royal Bank of Canada decreased their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Mizuho decreased their target price on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Morgan Stanley initiated coverage on Cloudflare in a research report on Tuesday, March 18th. They set an “overweight” rating for the company. Finally, Wells Fargo & Company upped their target price on Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average price target of $135.64.

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.