Cloudflare, Inc. (NYSE:NET) Shares Bought by Sei Investments Co.

Sei Investments Co. raised its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 219,090 shares of the company's stock after buying an additional 35,198 shares during the period. Sei Investments Co. owned approximately 0.06% of Cloudflare worth $23,592,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. American Century Companies Inc. raised its position in shares of Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Vestor Capital LLC acquired a new position in Cloudflare in the 4th quarter valued at about $5,603,000. Whittier Trust Co. lifted its holdings in Cloudflare by 120.5% in the 4th quarter. Whittier Trust Co. now owns 602 shares of the company's stock valued at $65,000 after purchasing an additional 329 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its stake in shares of Cloudflare by 32.5% during the 4th quarter. Northwest & Ethical Investments L.P. now owns 2,650 shares of the company's stock worth $285,000 after purchasing an additional 650 shares during the last quarter. Finally, Berkshire Capital Holdings Inc. boosted 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 purchasing an additional 88,560 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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Insider Activity

In other Cloudflare news, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction on 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 transaction, the chief financial officer now directly owns 252,869 shares of the company's stock, valued at approximately $28,779,020.89. This represents a 5.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 618,046 shares of company stock worth $80,142,792. 12.83% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on NET. Royal Bank of Canada reduced their price objective on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Scotiabank increased their price target on Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research note on Tuesday, January 21st. Robert W. Baird reaffirmed a "neutral" rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. JMP Securities increased their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research report on Friday, February 7th. Finally, JPMorgan Chase & Co. lifted their price target on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $135.64.

Cloudflare Stock Down 3.1 %

NET traded down $3.68 during trading hours on Friday, reaching $114.89. 3,139,802 shares of the stock traded hands, compared to its average volume of 3,081,173. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27. The firm's fifty day simple moving average is $137.47 and its two-hundred day simple moving average is $111.56.

Cloudflare (NYSE:NET - Get Free Report) last released 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.