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

Sei Investments Co. boosted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 19.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 219,090 shares of the company’s stock after purchasing an additional 35,198 shares during the quarter. Sei Investments Co.’s holdings in Cloudflare were worth $23,592,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NET. American Century Companies Inc. grew its holdings in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the period. Vestor Capital LLC purchased a new stake in Cloudflare during the fourth quarter worth $5,603,000. Whittier Trust Co. grew its holdings in Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock valued at $65,000 after purchasing an additional 329 shares during the last quarter. Northwest & Ethical Investments L.P. increased its position in shares of Cloudflare by 32.5% in the fourth quarter. Northwest & Ethical Investments L.P. now owns 2,650 shares of the company’s stock valued at $285,000 after buying an additional 650 shares in the last quarter. Finally, Berkshire Capital Holdings Inc. raised its stake in shares of Cloudflare by 885,600.0% during the 4th quarter. Berkshire Capital Holdings Inc. now owns 88,570 shares of the company’s stock worth $9,537,000 after buying an additional 88,560 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Stock Down 5.0 %

NET opened at $121.14 on Thursday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The firm has a 50 day moving average price of $137.31 and a 200 day moving average price of $110.92. 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 company has a market cap of $41.80 billion, a PE ratio of -550.62 and a beta of 1.27.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) 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%. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on NET shares. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Mizuho dropped their price objective on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Needham & Company LLC lowered their target price on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Finally, Royal Bank of Canada cut their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $135.64.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $113.98, for a total transaction of $5,970,728.32. Following the completion of the transaction, the chief executive officer now owns 10,762 shares in the company, valued at $1,226,652.76. The trade was a 82.96 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $28,779,020.89. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 566,766 shares of company stock valued at $73,779,200 in the last quarter. Company insiders own 12.83% of the company’s stock.

Cloudflare 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.