Xponance Inc. Has $5.97 Million Position in Cloudflare, Inc. (NYSE:NET)

Xponance Inc. increased its stake in Cloudflare, Inc. (NYSE:NET) by 6.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 55,406 shares of the company’s stock after purchasing an additional 3,210 shares during the quarter. Xponance Inc.’s holdings in Cloudflare were worth $5,966,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NET. Quarry LP lifted its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Quest Partners LLC bought a new position in Cloudflare in the 3rd quarter worth approximately $54,000. Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the period. Versant Capital Management Inc increased its position in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the period. Finally, GAMMA Investing LLC increased its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Cloudflare stock opened at $117.48 on Thursday. 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 has a market cap of $40.54 billion, a P/E ratio of -534.02 and a beta of 1.27. The business’s fifty day moving average is $136.54 and its two-hundred day moving average is $109.42. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS 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 research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was 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 of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 609,150 shares of company stock valued at $78,440,970. 12.83% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

NET has been the topic of several recent analyst reports. Piper Sandler dropped their price target on Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Royal Bank of Canada dropped their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a research report on Thursday, March 13th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Finally, Stifel Nicolaus boosted their price objective on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $130.04.

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.