Quantinno Capital Management LP Has $2.43 Million Holdings in Cloudflare, Inc. (NYSE:NET)

Quantinno Capital Management LP grew its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 73.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,093 shares of the company's stock after purchasing an additional 12,774 shares during the quarter. Quantinno Capital Management LP's holdings in Cloudflare were worth $2,434,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its holdings in Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company's stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP boosted its holdings in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company's stock worth $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in Cloudflare during the third quarter worth about $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter valued at approximately $54,000. Finally, Blue Trust Inc. grew its position in shares of Cloudflare by 37,600.0% in the second quarter. Blue Trust Inc. now owns 754 shares of the company's stock valued at $62,000 after purchasing an additional 752 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Price Performance

Shares of NYSE:NET traded up $3.73 during midday trading on Wednesday, reaching $114.93. The company's stock had a trading volume of 1,460,782 shares, compared to its average volume of 3,163,742. The business's fifty day simple moving average is $94.09 and its 200-day simple moving average is $84.26. The company has a market capitalization of $39.44 billion, a P/E ratio of -427.96 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to analysts' expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $27,790,303.10. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Michelle Zatlyn sold 64,100 shares of the firm's stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00. Following the sale, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $15,681,643.20. This represents a 25.01 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 473,544 shares of company stock worth $43,247,351. 12.83% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on NET. Wells Fargo & Company upped their target price on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. UBS Group boosted their price target on Cloudflare from $88.00 to $95.00 and gave the company a "neutral" rating in a research report on Friday, November 8th. Mizuho lifted their price objective on Cloudflare from $92.00 to $105.00 and gave the company a "neutral" rating in a research note on Thursday, October 17th. BNP Paribas started coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an "underperform" rating and a $65.00 price target on the stock. Finally, Morgan Stanley upgraded Cloudflare from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare has an average rating of "Hold" and an average price target of $94.40.

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.