Trexquant Investment LP Buys 27,531 Shares of Cloudflare, Inc. (NYSE:NET)

Trexquant Investment LP increased its stake in shares of Cloudflare, Inc. (NYSE:NETFree Report) by 107.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,147 shares of the company’s stock after purchasing an additional 27,531 shares during the quarter. Trexquant Investment LP’s holdings in Cloudflare were worth $4,425,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Cloudflare by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock valued at $1,728,448,000 after purchasing an additional 395,363 shares during the period. Norges Bank acquired a new position in Cloudflare in the fourth quarter valued at about $221,858,000. Northern Trust Corp boosted its holdings in Cloudflare by 3.1% during the third quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after buying an additional 51,345 shares during the last quarter. Deutsche Bank AG grew its position in shares of Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after buying an additional 65,596 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 4.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,030,682 shares of the company’s stock valued at $85,815,000 after acquiring an additional 47,175 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on NET shares. The Goldman Sachs Group decreased their price objective on shares of Cloudflare from $89.00 to $77.00 and set a “sell” rating for the company in a report on Monday, May 6th. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price target for the company in a report on Tuesday, May 7th. TD Cowen decreased their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Citigroup dropped their target price on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 price objective on shares of Cloudflare in a research report on Tuesday, May 14th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $91.87.

Read Our Latest Research Report on Cloudflare

Cloudflare Price Performance

Shares of Cloudflare stock opened at $75.02 on Thursday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a 50-day simple moving average of $87.40 and a two-hundred day simple moving average of $85.02. The stock has a market capitalization of $25.49 billion, a price-to-earnings ratio of -141.55 and a beta of 1.15. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Insider Activity at Cloudflare

In related news, Director Carl Ledbetter sold 8,022 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $98.35, for a total transaction of $788,963.70. Following the completion of the sale, the director now owns 1,337,064 shares of the company’s stock, valued at $131,500,244.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $99.64, for a total transaction of $298,920.00. Following the sale, the insider now owns 205,238 shares of the company’s stock, valued at approximately $20,449,914.32. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Carl Ledbetter sold 8,022 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $98.35, for a total value of $788,963.70. Following the completion of the transaction, the director now directly owns 1,337,064 shares of the company’s stock, valued at approximately $131,500,244.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 790,094 shares of company stock worth $69,847,850. Company insiders own 12.83% of the company’s stock.

About Cloudflare

(Free Report)

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.

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Institutional Ownership by Quarter for Cloudflare (NYSE:NET)

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