Quest Partners LLC Invests $444,000 in Cloudflare, Inc. (NYSE:NET)

Quest Partners LLC bought a new stake in shares of Cloudflare, Inc. (NYSE:NET) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 5,327 shares of the company’s stock, valued at approximately $444,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Cloudflare in the 4th quarter worth $39,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Cloudflare by 1,976.9% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 540 shares of the company’s stock worth $45,000 after acquiring an additional 514 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of Cloudflare by 98.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 596 shares of the company’s stock worth $50,000 after acquiring an additional 296 shares during the last quarter. ORG Partners LLC acquired a new stake in shares of Cloudflare in the 4th quarter worth $55,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Cloudflare by 2,422.9% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 883 shares of the company’s stock valued at $56,000 after buying an additional 848 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Trading Up 0.8 %

Shares of Cloudflare stock traded up $0.57 during trading hours on Friday, reaching $74.19. The stock had a trading volume of 1,745,322 shares, compared to its average volume of 3,927,981. The firm has a 50 day simple moving average of $86.64 and a two-hundred day simple moving average of $85.02. The firm has a market capitalization of $25.21 billion, a price-to-earnings ratio of -139.98 and a beta of 1.15. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $72.51, for a total transaction of $3,798,363.84. Following the completion of the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $16,721,676.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Maria S. Eitel sold 6,875 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $98.51, for a total transaction of $677,256.25. Following the sale, the director now directly owns 23,513 shares of the company’s stock, valued at $2,316,265.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of Cloudflare stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $72.51, for a total value of $3,798,363.84. Following the transaction, the chief executive officer now owns 230,612 shares in the company, valued at approximately $16,721,676.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 737,710 shares of company stock worth $64,674,930. 12.83% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of Cloudflare in a research note on Tuesday, May 14th. Oppenheimer cut their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday, May 3rd. TD Cowen cut 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. Finally, Royal Bank of Canada increased their price objective on Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $91.87.

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.