Cloudflare, Inc. (NYSE:NET) Position Increased by Sepio Capital LP

Sepio Capital LP lifted its holdings in Cloudflare, Inc. (NYSE:NET) by 1.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 26,416 shares of the company’s stock after buying an additional 325 shares during the quarter. Sepio Capital LP’s holdings in Cloudflare were worth $2,188,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of NET. Dimensional Fund Advisors LP boosted its stake in Cloudflare by 8.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 285,604 shares of the company’s stock valued at $23,783,000 after acquiring an additional 21,447 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Cloudflare by 81.6% in the 4th quarter. Janney Montgomery Scott LLC now owns 7,395 shares of the company’s stock worth $615,000 after purchasing an additional 3,323 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in Cloudflare by 13.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,132 shares of the company’s stock valued at $594,000 after purchasing an additional 824 shares during the period. Advisory Services Network LLC bought a new position in Cloudflare during the 4th quarter worth $182,000. Finally, TD Asset Management Inc increased its position in Cloudflare by 12.4% in the fourth quarter. TD Asset Management Inc now owns 65,702 shares of the company’s stock worth $5,470,000 after buying an additional 7,230 shares during the period. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of several analyst reports. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Mizuho upped their target price on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Susquehanna lifted their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Needham & Company LLC reissued a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their target price on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $92.29.

Insiders Place Their Bets

In other Cloudflare news, COO Michelle Zatlyn sold 102,580 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.52, for a total value of $8,464,901.60. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares in the company, valued at $17,444,232.88. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $82.65, for a total transaction of $247,950.00. Following the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at $16,141,792.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michelle Zatlyn sold 102,580 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60. Following the completion of the sale, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at $17,444,232.88. The disclosure for this sale can be found here. In the last quarter, insiders have sold 564,032 shares of company stock worth $45,444,694. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 0.9 %

Cloudflare stock opened at $81.58 on Friday. The firm has a market cap of $27.72 billion, a price-to-earnings ratio of -153.92 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The firm’s 50 day moving average price is $79.73 and its two-hundred day moving average price is $82.02. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same period in the previous year, the firm posted ($0.12) EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. On average, research analysts predict that Cloudflare, Inc. will post -0.13 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.