Trexquant Investment LP Increases Holdings in Cloudflare, Inc. (NYSE:NET)

Trexquant Investment LP increased its position in Cloudflare, Inc. (NYSE:NET) by 107.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,147 shares of the company’s stock after acquiring an additional 27,531 shares during the quarter. Trexquant Investment LP’s holdings in Cloudflare were worth $4,425,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC purchased a new stake in Cloudflare during the fourth quarter valued at about $39,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock valued at $45,000 after purchasing an additional 514 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Cloudflare by 98.7% during the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock valued at $50,000 after purchasing an additional 296 shares during the last quarter. ORG Partners LLC purchased a new position in Cloudflare in the 4th quarter worth $55,000. Finally, Harvest Fund Management Co. Ltd boosted its position in Cloudflare by 2,422.9% during the third quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after buying an additional 848 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.64, for a total value of $298,920.00. Following the completion of the transaction, the insider now directly owns 205,238 shares in the company, valued at approximately $20,449,914.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $99.64, for a total value of $298,920.00. Following the completion of the sale, the insider now directly owns 205,238 shares in the company, valued at $20,449,914.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $72.51, for a total transaction of $3,798,363.84. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $16,721,676.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 790,094 shares of company stock valued at $69,847,850. 12.83% of the stock is owned by insiders.

Analyst Ratings Changes

NET has been the subject of a number of recent research reports. Oppenheimer lowered their target price on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. The Goldman Sachs Group cut their target price on shares of Cloudflare from $89.00 to $77.00 and set a “sell” rating on the stock in a report on Monday, May 6th. JMP Securities reissued a “market outperform” rating and set a $120.00 price target on shares of Cloudflare in a research report on Tuesday, May 14th. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Finally, Susquehanna dropped their target price on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $91.87.

Cloudflare Stock Up 0.9 %

NET stock opened at $75.02 on Thursday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The business has a 50 day moving average of $87.40 and a 200 day moving average of $85.02. The firm has a market cap of $25.49 billion, a PE ratio of -141.55 and a beta of 1.15.

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.