Quantinno Capital Management LP Acquires 9,482 Shares of Cloudflare, Inc. (NYSE:NET)

Quantinno Capital Management LP raised its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 31.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,575 shares of the company's stock after purchasing an additional 9,482 shares during the period. Quantinno Capital Management LP's holdings in Cloudflare were worth $4,261,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Brookstone Capital Management acquired a new stake in shares of Cloudflare in the 4th quarter valued at approximately $304,000. Assenagon Asset Management S.A. lifted its stake in Cloudflare by 38.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company's stock valued at $515,000 after purchasing an additional 1,326 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Cloudflare by 28.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company's stock valued at $679,000 after buying an additional 1,390 shares in the last quarter. Premier Path Wealth Partners LLC acquired a new stake in Cloudflare in the fourth quarter valued at approximately $217,000. Finally, Aaron Wealth Advisors LLC bought a new stake in shares of Cloudflare during the fourth quarter worth $213,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity

In other news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Thursday, May 1st. The shares were sold at an average price of $124.16, for a total transaction of $372,480.00. Following the transaction, the insider now owns 185,406 shares of the company's stock, valued at $23,020,008.96. This represents a 1.59% decrease in their position. The transaction 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 firm's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the sale, the chief executive officer now owns 413,413 shares of the company's stock, valued at approximately $59,279,290.07. This represents a 11.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 529,199 shares of company stock worth $68,401,233 in the last quarter. 12.83% of the stock is owned by corporate insiders.

Cloudflare Trading Up 1.0%

Cloudflare stock traded up $1.55 during trading hours on Thursday, reaching $158.07. 2,082,883 shares of the company's stock were exchanged, compared to its average volume of 3,152,866. The firm's 50 day simple moving average is $120.84 and its 200 day simple moving average is $121.13. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a market capitalization of $54.54 billion, a PE ratio of -718.49 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last announced its 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 net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the previous year, the company earned $0.16 EPS. The firm's revenue for the quarter was up 26.5% on a year-over-year basis. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and increased their price target for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Oppenheimer increased their target price on Cloudflare from $150.00 to $165.00 and gave the company an "outperform" rating in a research report on Friday, May 9th. Needham & Company LLC boosted their price target on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $141.79.

Cloudflare Company 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.