Sei Investments Co. Boosts Holdings in Cloudflare, Inc. (NYSE:NET)

Sei Investments Co. increased its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,090 shares of the company’s stock after buying an additional 35,198 shares during the period. Sei Investments Co. owned about 0.06% of Cloudflare worth $23,592,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC purchased a new stake in Cloudflare during the 3rd quarter worth about $54,000. Larson Financial Group LLC raised its position in 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 in the last quarter. Versant Capital Management Inc boosted its stake in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the period. Finally, GAMMA Investing LLC grew its position in shares of 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 in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. DZ Bank cut shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a report on Tuesday, February 11th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Cantor Fitzgerald increased their target price on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Guggenheim lifted their price target on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Finally, Susquehanna upped their price objective on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $135.64.

Cloudflare Stock Performance

Shares of NET stock opened at $121.14 on Thursday. The stock’s 50-day moving average price is $137.31 and its 200 day moving average price is $110.92. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $41.80 billion, a PE ratio of -550.62 and a beta of 1.27. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last released its earnings results 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%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 4,327 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michelle Zatlyn sold 35,099 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The disclosure for this sale can be found here. In the last quarter, insiders sold 566,766 shares of company stock worth $73,779,200. 12.83% of the stock is owned by insiders.

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.