Cloudflare, Inc. (NYSE:NET) Shares Purchased by Stifel Financial Corp

Stifel Financial Corp boosted its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 30.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,050 shares of the company's stock after purchasing an additional 11,011 shares during the period. Stifel Financial Corp's holdings in Cloudflare were worth $5,066,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Capital World Investors lifted its position in Cloudflare by 0.7% in the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after purchasing an additional 260,415 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after buying an additional 68,661 shares during the period. Groupama Asset Managment purchased a new stake in shares of Cloudflare in the fourth quarter valued at approximately $269,200,000. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth $249,544,000. Finally, American Century Companies Inc. raised its position in Cloudflare by 82.0% in the fourth 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 in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Stock Up 1.3 %

Shares of NET traded up $1.65 during midday trading on Friday, reaching $124.26. 2,621,223 shares of the stock were exchanged, compared to its average volume of 3,095,161. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company's 50 day moving average is $117.80 and its two-hundred day moving average is $116.52. The company has a market capitalization of $42.88 billion, a P/E ratio of -564.82 and a beta of 1.59.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Insider Transactions at Cloudflare

In other Cloudflare news, 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 owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at approximately $34,549,491.47. This trade represents a 5.60 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 509,973 shares of company stock valued at $66,133,783 over the last ninety days. Insiders own 12.83% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on NET shares. JMP Securities raised their price target on shares of Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a research note on Friday, February 7th. DZ Bank cut shares of Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price for the company. in a research note on Tuesday, February 11th. Royal Bank of Canada reduced their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a research note on Thursday, March 13th. Citigroup raised Cloudflare from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Finally, The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, March 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Cloudflare currently has an average rating of "Hold" and a consensus price target of $134.84.

About Cloudflare

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.