Rhumbline Advisers Has $45.28 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

Rhumbline Advisers increased its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 1.1% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 401,846 shares of the company's stock after purchasing an additional 4,195 shares during the period. Rhumbline Advisers owned 0.12% of Cloudflare worth $45,284,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the 4th quarter valued at approximately $43,000. 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 acquiring an additional 381 shares in the last quarter. Park Square Financial Group LLC acquired a new stake in shares of Cloudflare during the 4th quarter valued at approximately $56,000. Finally, Larson Financial Group LLC raised its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Insider Activity

In other news, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the sale, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at $35,229,840. This represents a 3.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $116.47, for a total value of $6,101,164.48. Following the sale, the chief executive officer now directly owns 413,413 shares of the company's stock, valued at approximately $48,150,212.11. This represents a 11.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 504,085 shares of company stock valued at $65,810,967 over the last three months. Insiders own 12.83% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on NET. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and upped their price target for the company from $60.00 to $160.00 in a research report on Tuesday, March 25th. The Goldman Sachs Group dropped their price target on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. JMP Securities upped their price target on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research note on Wednesday, April 16th. Finally, Susquehanna lowered their price objective on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $143.25.

Cloudflare Price Performance

Shares of Cloudflare stock traded up $5.41 during trading on Thursday, hitting $176.33. The stock had a trading volume of 5,246,626 shares, compared to its average volume of 3,137,043. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The firm has a market cap of $61.12 billion, a P/E ratio of -801.51 and a beta of 1.78. The business has a fifty day moving average of $129.87 and a two-hundred day moving average of $126.16. Cloudflare, Inc. has a fifty-two week low of $68.16 and a fifty-two week high of $181.07.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The firm had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The company's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.16 EPS. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.