Los Angeles Capital Management LLC Purchases 69,641 Shares of Cloudflare, Inc. (NYSE:NET)

Los Angeles Capital Management LLC raised its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 54.5% during the 1st quarter, according to the company in 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 acquiring an additional 69,641 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.06% of Cloudflare worth $22,252,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Proficio Capital Partners LLC bought a new stake in Cloudflare during the fourth quarter worth approximately $100,000. Envestnet Portfolio Solutions Inc. raised its stake in shares of Cloudflare by 17.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 8,870 shares of the company's stock valued at $955,000 after purchasing an additional 1,343 shares in the last quarter. Axxcess Wealth Management LLC acquired a new position in Cloudflare during the fourth quarter worth $234,000. Royal London Asset Management Ltd. raised its stake in Cloudflare by 17.4% during the fourth quarter. Royal London Asset Management Ltd. now owns 141,891 shares of the company's stock worth $15,279,000 after acquiring an additional 20,990 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new position in Cloudflare during the fourth quarter worth $307,000. Hedge funds and other institutional investors own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,098 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total value of $5,504,419.34. Following the sale, the insider owned 6,390 shares of the company's stock, valued at $1,002,143.70. The trade was a 84.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $152.68, for a total transaction of $7,997,989.12. Following the transaction, the chief executive officer owned 10,426 shares of the company's stock, valued at approximately $1,591,841.68. The trade was a 83.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 581,062 shares of company stock worth $99,070,153 in the last ninety days. Insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

Cloudflare stock traded down $7.08 during trading on Tuesday, reaching $190.68. The company had a trading volume of 3,957,877 shares, compared to its average volume of 3,187,048. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The firm's 50-day simple moving average is $175.86 and its 200 day simple moving average is $143.68. The firm has a market capitalization of $66.09 billion, a price-to-earnings ratio of -829.03 and a beta of 1.85. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $200.77.

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Susquehanna reduced their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. UBS Group boosted their price target on Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a research note on Friday, May 9th. KeyCorp started coverage on Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 target price for the company. CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target for the company in a report on Monday, May 12th. Finally, Guggenheim increased their price target on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a research note on Friday, May 9th. Three analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $155.32.

Cloudflare Profile

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.