Sepio Capital LP Buys 1,140 Shares of Cloudflare, Inc. (NYSE:NET)

Sepio Capital LP increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,356 shares of the company’s stock after acquiring an additional 1,140 shares during the quarter. Sepio Capital LP’s holdings in Cloudflare were worth $3,053,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Quarry LP raised its holdings in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the period. Versant Capital Management Inc lifted its holdings in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares in the last quarter. GAMMA Investing LLC grew its stake in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the period. Finally, Whittier Trust Co. increased its holdings in shares of Cloudflare by 120.5% in the fourth quarter. Whittier Trust Co. now owns 602 shares of the company’s stock worth $65,000 after acquiring an additional 329 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on NET. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Stifel Nicolaus upped their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Wells Fargo & Company increased their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. UBS Group cut their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, The Goldman Sachs Group lowered their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. 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 stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $135.64.

Insiders Place Their Bets

In related news, CAO Janel Riley sold 4,327 shares of Cloudflare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. This trade represents a 5.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 612,046 shares of company stock valued at $79,451,112 over the last ninety days. 12.83% of the stock is currently owned by company insiders.

Cloudflare Trading Down 9.3 %

Cloudflare stock opened at $97.39 on Friday. The stock has a 50-day simple moving average of $136.35 and a 200 day simple moving average of $112.43. The stock has a market capitalization of $33.61 billion, a P/E ratio of -442.68 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37.

Cloudflare (NYSE:NET) last issued its 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%. Analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current 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.