O Shaughnessy Asset Management LLC Boosts Position in Cloudflare, Inc. (NYSE:NET)

O Shaughnessy Asset Management LLC raised its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 16.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,992 shares of the company's stock after buying an additional 3,411 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Cloudflare were worth $2,583,000 as of its most recent SEC filing.

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

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Cloudflare Price Performance

Shares of NET stock traded up $5.61 during trading on Tuesday, hitting $103.97. The company had a trading volume of 1,659,735 shares, compared to its average volume of 4,058,485. The stock's 50-day moving average is $135.79 and its two-hundred day moving average is $113.01. The stock has a market capitalization of $35.88 billion, a price-to-earnings ratio of -472.55 and a beta of 1.59. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on NET shares. The Goldman Sachs Group dropped their price objective on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, March 14th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and increased their price objective for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Morgan Stanley started coverage on Cloudflare in a research report on Tuesday, March 18th. They issued an "overweight" rating for the company. Citigroup upgraded shares of Cloudflare from a "neutral" rating to a "buy" rating and increased their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Finally, Royal Bank of Canada decreased their price objective on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $134.88.

Insider Buying and Selling

In related news, CAO Janel Riley sold 4,327 shares of Cloudflare 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 of the company's stock, valued at $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the sale, the insider now directly owns 188,406 shares of the company's stock, valued at $21,257,848.98. The trade was a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 559,662 shares of company stock worth $73,480,384 in the last 90 days. 12.83% of the stock is owned by company insiders.

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.