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

Quantinno Capital Management LP grew its position in shares of Cloudflare, Inc. (NYSE:NET) by 31.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,575 shares of the company’s stock after acquiring an additional 9,482 shares during the quarter. Quantinno Capital Management LP’s holdings in Cloudflare were worth $4,261,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hartline Investment Corp increased its holdings in shares of Cloudflare by 1.5% in the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after buying an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC bought a new stake in Cloudflare during the fourth quarter worth approximately $215,000. Strategic Blueprint LLC purchased a new stake in Cloudflare during the fourth quarter valued at approximately $265,000. Clarendon Private LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $293,000. Finally, Savant Capital LLC purchased a new position in shares of Cloudflare in the 4th quarter worth approximately $237,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total value of $4,640,874.45. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at $47,580,834.74. This trade represents a 8.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Janel Riley sold 4,327 shares of the business’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. This trade represents a 5.48% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 597,260 shares of company stock valued at $79,553,032. 12.83% of the stock is currently owned by insiders.

Cloudflare Stock Up 2.8%

Cloudflare stock opened at $157.06 on Monday. 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 cap of $54.20 billion, a P/E ratio of -713.89 and a beta of 1.78. The business has a fifty day moving average of $118.38 and a two-hundred day moving average of $120.14. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) 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 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 26.5% on a year-over-year basis. On average, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of analyst reports. Susquehanna lowered their price target on Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Capital One Financial upgraded shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Morgan Stanley increased their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, JMP Securities boosted their target price on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $141.79.

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.