Xponance Inc. Raises Holdings in Cloudflare, Inc. (NYSE:NET)

Xponance Inc. lifted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 4.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 57,909 shares of the company's stock after purchasing an additional 2,503 shares during the period. Xponance Inc.'s holdings in Cloudflare were worth $6,526,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in NET. GAMMA Investing LLC grew its stake in Cloudflare by 86.8% during the 1st quarter. GAMMA Investing LLC now owns 1,093 shares of the company's stock worth $123,000 after buying an additional 508 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Cloudflare by 3.4% in the fourth quarter. LPL Financial LLC now owns 122,171 shares of the company's stock valued at $13,155,000 after acquiring an additional 3,989 shares during the period. Amalgamated Bank grew its position in shares of Cloudflare by 7.0% during the first quarter. Amalgamated Bank now owns 21,402 shares of the company's stock worth $2,412,000 after acquiring an additional 1,400 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Cloudflare by 47.0% in the 4th quarter. Wellington Management Group LLP now owns 5,930 shares of the company's stock valued at $639,000 after acquiring an additional 1,896 shares during the period. Finally, Yousif Capital Management LLC increased its holdings in shares of Cloudflare by 2.5% in the 1st quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock valued at $447,000 after acquiring an additional 98 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Price Performance

Shares of NYSE NET opened at $181.18 on Friday. 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 company's 50-day moving average price is $169.44 and its 200 day moving average price is $140.69. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $198.01. The stock has a market cap of $62.80 billion, a price-to-earnings ratio of -787.74 and a beta of 1.85.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on NET. Susquehanna lowered their price objective on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research report on Monday, May 12th. UBS Group increased their target price 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. Oppenheimer reissued an "outperform" rating and set a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Morgan Stanley upped their price objective on Cloudflare from $150.00 to $225.00 and gave the company an "overweight" rating in a research note on Friday. Finally, KeyCorp initiated coverage on Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 price objective for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $148.92.

Insider Transactions at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 35,098 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $156.83, for a total value of $5,504,419.34. Following the transaction, the insider directly owned 6,390 shares in the company, valued at approximately $1,002,143.70. This represents a 84.60% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly owned 10,426 shares in the company, valued at $1,591,841.68. This represents a 83.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 581,060 shares of company stock valued at $95,040,197 over the last three months. 10.89% of the stock is currently 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.

Want to see what other hedge funds are holding NET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Cloudflare, Inc. (NYSE:NET - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.