Cloudflare, Inc. (NYSE:NET) Shares Bought by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 54.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 197,463 shares of the company's stock after purchasing an additional 69,641 shares during the quarter. Los Angeles Capital Management LLC owned about 0.06% of Cloudflare worth $22,252,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Mather Group LLC. raised its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the period. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the 1st quarter valued at approximately $27,000. GPS Wealth Strategies Group LLC raised its position in shares of Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB raised its position in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after buying an additional 142 shares during the period. Finally, Global Financial Private Client LLC raised its position in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock valued at $43,000 after buying an additional 381 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Cloudflare Stock Performance

NET traded up $0.91 on Thursday, reaching $190.06. The company had a trading volume of 1,248,847 shares, compared to its average volume of 3,706,930. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $200.76. The stock has a market capitalization of $65.88 billion, a PE ratio of -826.35 and a beta of 1.85. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $178.49 and a 200-day moving average price of $144.89.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The company had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same period last year, the firm earned $0.16 earnings per share. Cloudflare's revenue was up 26.5% on a year-over-year basis. As a group, research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reiterated a "neutral" rating and issued a $151.00 target price (up previously from $112.00) on shares of Cloudflare in a report on Friday, May 9th. DZ Bank downgraded shares of Cloudflare from a "strong-buy" rating to a "strong sell" rating and set a $170.00 target price for the company. in a report on Tuesday. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Wells Fargo & Company boosted their price target on shares of Cloudflare from $200.00 to $225.00 and gave the stock an "overweight" rating in a research note on Monday. Finally, UBS Group boosted their price target on shares of Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $156.32.

Insider Activity

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the transaction, the chief executive officer directly owned 10,426 shares in the company, valued at approximately $1,591,841.68. This represents a 83.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 41,556 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $156.78, for a total transaction of $6,515,149.68. Following the transaction, the chief financial officer owned 241,550 shares in the company, valued at $37,870,209. The trade was a 14.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 625,332 shares of company stock valued at $107,911,278. 10.89% of the stock is owned by insiders.

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.