LMR Partners LLP Makes New $11.85 Million Investment in Cloudflare, Inc. (NYSE:NET)

LMR Partners LLP bought a new position in Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 110,000 shares of the company's stock, valued at approximately $11,845,000.

Several other hedge funds also recently made changes to their positions in NET. GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares during the period. Brookstone Capital Management acquired a new stake in shares of Cloudflare in the 4th quarter worth $304,000. Grandview Asset Management LLC lifted its stake in shares of Cloudflare by 16.5% in the 4th quarter. Grandview Asset Management LLC now owns 11,972 shares of the company's stock worth $1,289,000 after acquiring an additional 1,698 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of 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 in the last quarter. Finally, Hennion & Walsh Asset Management Inc. increased its holdings in shares of Cloudflare by 28.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,308 shares of the company's stock valued at $679,000 after purchasing an additional 1,390 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Activity

In other news, CAO Janel Riley sold 4,327 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares of the company's stock, valued at approximately $12,519,384.80. The trade was a 5.48% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the transaction, the insider now directly owns 188,406 shares of the company's stock, valued at approximately $21,257,848.98. This trade represents a 4.56% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 597,260 shares of company stock valued at $79,553,032. 12.83% of the stock is currently owned by company insiders.

Cloudflare Stock Up 2.8%

Shares of NET traded up $4.26 during mid-day trading on Friday, reaching $157.06. 5,364,182 shares of the stock traded hands, compared to its average volume of 3,145,757. The firm has a market cap of $54.20 billion, a price-to-earnings ratio of -713.89 and a beta of 1.78. The stock has a fifty day simple moving average of $118.38 and a 200 day simple moving average of $119.71. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-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.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price target on shares of Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Scotiabank raised their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a report on Tuesday, January 21st. DZ Bank downgraded shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price for the company. in a report on Tuesday, February 11th. Oppenheimer raised their target price on shares of Cloudflare from $150.00 to $165.00 and gave the company an "outperform" rating in a report on Friday, May 9th. Finally, Susquehanna dropped their target price on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a report on Monday, May 12th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus 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.