Trexquant Investment LP Has $28.02 Million Position in Cloudflare, Inc. (NYSE:NET)

Trexquant Investment LP increased its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 127.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 260,210 shares of the company's stock after purchasing an additional 145,942 shares during the quarter. Trexquant Investment LP owned 0.08% of Cloudflare worth $28,019,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Stratos Wealth Partners LTD. boosted its holdings in Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock valued at $709,000 after purchasing an additional 77 shares during the last quarter. Atomi Financial Group Inc. boosted its stake in shares of Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company's stock valued at $319,000 after purchasing an additional 94 shares during the period. Baxter Bros Inc. increased its position in shares of Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after acquiring an additional 100 shares during the period. Chicago Partners Investment Group LLC boosted its holdings in Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after purchasing an additional 105 shares during the period. Finally, D.A. Davidson & CO. increased its holdings in Cloudflare by 0.5% during the 4th quarter. D.A. Davidson & CO. now owns 21,075 shares of the company's stock worth $2,269,000 after purchasing an additional 106 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

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Cloudflare Price Performance

NYSE:NET traded up $4.19 during trading hours on Wednesday, hitting $119.85. The company's stock had a trading volume of 4,203,970 shares, compared to its average volume of 3,097,318. The company has a market capitalization of $41.36 billion, a PE ratio of -544.77 and a beta of 1.27. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The business's 50-day moving average is $137.24 and its two-hundred day moving average is $112.34. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data 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%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $113.98, for a total value of $5,970,728.32. Following the sale, the chief executive officer now directly owns 10,762 shares in the company, valued at approximately $1,226,652.76. This represents a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 627,046 shares of company stock worth $81,158,262. 12.83% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Mizuho reduced their price objective on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. UBS Group lowered their price objective on Cloudflare from $165.00 to $135.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. DZ Bank lowered Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price on the stock. in a research report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. upped their price target on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of "Hold" and an average price target of $135.64.

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.