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

Xponance Inc. raised its stake in Cloudflare, Inc. (NYSE:NET) by 6.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 55,406 shares of the company’s stock after buying an additional 3,210 shares during the period. Xponance Inc.’s holdings in Cloudflare were worth $5,966,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hartline Investment Corp lifted its stake in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after buying an additional 3,957 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the period. Birchcreek Wealth Management LLC acquired a new position in Cloudflare in the fourth quarter valued at about $215,000. Strategic Blueprint LLC acquired a new position in Cloudflare in the fourth quarter valued at about $265,000. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Cloudflare in the third quarter valued at about $591,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity

In other news, CFO Thomas J. Seifert sold 33,864 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $30,192,558.60. This trade represents a 11.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $111.90, for a total value of $5,861,769.60. Following the completion of the sale, the chief executive officer now directly owns 10,762 shares of the company’s stock, valued at approximately $1,204,267.80. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 609,150 shares of company stock valued at $78,440,970 over the last three months. Insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on NET shares. Scotiabank increased their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. JMP Securities increased their price target on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. Cantor Fitzgerald increased their price target on Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price target on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Finally, Stifel Nicolaus increased their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $130.04.

Cloudflare Stock Performance

Shares of NYSE NET opened at $117.48 on Thursday. The stock has a 50 day moving average price of $136.54 and a 200 day moving average price of $109.42. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market capitalization of $40.54 billion, a PE ratio of -534.02 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Cloudflare Company 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.