Trexquant Investment LP Buys 145,942 Shares of Cloudflare, Inc. (NYSE:NET)

Trexquant Investment LP raised its position in Cloudflare, Inc. (NYSE:NET) by 127.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 260,210 shares of the company’s stock after purchasing an additional 145,942 shares during the quarter. Trexquant Investment LP’s holdings in Cloudflare were worth $28,019,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Quarry LP grew its holdings in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC lifted its position in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares during the last quarter. Versant Capital Management Inc increased its holdings in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. GAMMA Investing LLC raised its stake in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Cloudflare by 120.5% during the 4th quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Trading Down 1.9 %

NYSE:NET opened at $112.77 on Tuesday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm’s fifty day moving average is $137.39 and its 200-day moving average is $112.03. The firm has a market cap of $38.91 billion, a P/E ratio of -512.57 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 618,046 shares of company stock worth $80,142,792. 12.83% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have commented on NET shares. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research report on Tuesday, February 11th. Stifel Nicolaus increased their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Mizuho reduced their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Bank of America upgraded Cloudflare from an “underperform” rating to a “buy” rating and increased their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price target for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $135.64.

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.