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

Xponance Inc. lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 6.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 55,406 shares of the company's stock after buying an additional 3,210 shares during the quarter. Xponance Inc.'s holdings in Cloudflare were worth $5,966,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP grew its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC lifted its stake in shares of 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 purchasing an additional 517 shares during 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 purchasing an additional 170 shares in the last quarter. GAMMA Investing LLC increased its position in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after buying an additional 217 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Cloudflare during the third quarter valued at about $54,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the sale, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. This represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total value of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares of the company's stock, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 566,766 shares of company stock worth $73,779,200 over the last ninety days. Corporate insiders own 12.83% of the company's stock.

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Cloudflare Price Performance

Shares of NET traded up $5.00 during mid-day trading on Monday, reaching $124.22. The company had a trading volume of 3,110,313 shares, compared to its average volume of 3,026,382. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market capitalization of $42.86 billion, a P/E ratio of -564.61 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company's 50-day moving average is $136.73 and its 200-day moving average is $110.24.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on NET. Cantor Fitzgerald upped their price target on Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Morgan Stanley initiated coverage on shares of Cloudflare in a research report on Tuesday, March 18th. They issued an "overweight" rating on the stock. Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Finally, The Goldman Sachs Group lowered their target price 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. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $131.64.

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.