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

Sepio Capital LP grew its position in Cloudflare, Inc. (NYSE:NET) by 4.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 28,356 shares of the company’s stock after purchasing 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 large investors have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its position in Cloudflare by 5.4% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 14,308 shares of the company’s stock worth $1,157,000 after acquiring an additional 734 shares during the last quarter. Investment Management Corp of Ontario lifted its position in shares of Cloudflare by 47.1% during the 3rd quarter. Investment Management Corp of Ontario now owns 9,994 shares of the company’s stock worth $808,000 after purchasing an additional 3,200 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in Cloudflare by 8.0% during the 3rd quarter. Royal London Asset Management Ltd. now owns 120,901 shares of the company’s stock valued at $9,780,000 after purchasing an additional 9,003 shares during the period. Quarry LP grew its holdings in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Finally, Quantinno Capital Management LP increased its position in Cloudflare by 73.8% in the 3rd quarter. Quantinno Capital Management LP now owns 30,093 shares of the company’s stock worth $2,434,000 after buying an additional 12,774 shares during the period. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on NET. Needham & Company LLC dropped their target price on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, March 13th. Morgan Stanley assumed coverage on shares of Cloudflare in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Royal Bank of Canada reduced their target price on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. boosted their price target on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Oppenheimer initiated coverage on Cloudflare in a research report on Thursday, March 20th. They issued an “outperform” rating and a $150.00 price objective for the company. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus target price of $135.64.

Insider Buying and Selling at Cloudflare

In related news, insider Michelle Zatlyn sold 35,099 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at $12,519,384.80. This represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 612,046 shares of company stock worth $79,451,112. Insiders own 12.83% of the company’s stock.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $97.39 on Friday. The business has a fifty day moving average of $136.35 and a 200-day moving average of $112.43. The firm has a market cap of $33.61 billion, a PE 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 twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.11 EPS 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.