AEGON ASSET MANAGEMENT UK Plc Has $27.01 Million Stock Position in Cloudflare, Inc. (NYSE:NET)

AEGON ASSET MANAGEMENT UK Plc cut its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 39.3% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 239,863 shares of the company's stock after selling 155,440 shares during the period. AEGON ASSET MANAGEMENT UK Plc owned approximately 0.07% of Cloudflare worth $27,011,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. CreativeOne Wealth LLC boosted its position in shares of Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after buying an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. raised its position in Cloudflare by 1.2% during the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after acquiring an additional 77 shares during the last quarter. Baxter Bros Inc. raised its position in Cloudflare by 3.8% during the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company's stock worth $296,000 after acquiring an additional 100 shares during the last quarter. Ellevest Inc. raised its position in shares of Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after purchasing an additional 102 shares during the last quarter. Finally, Chicago Partners Investment Group LLC lifted its position in shares of Cloudflare by 4.3% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company's stock valued at $293,000 after acquiring an additional 105 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Bank of America raised Cloudflare from an "underperform" rating to a "buy" rating and increased their price target for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Needham & Company LLC raised their price objective on Cloudflare from $145.00 to $160.00 and gave the stock a "buy" rating in a report on Friday, May 9th. Finally, JMP Securities lifted their price objective on Cloudflare from $135.00 to $180.00 and gave the company a "market outperform" rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $143.25.

Cloudflare Stock Up 3.2%

NYSE NET traded up $5.41 during mid-day trading on Thursday, reaching $176.33. 5,244,398 shares of the company's stock traded hands, compared to its average volume of 3,836,338. 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 1-year low of $69.26 and a 1-year high of $181.12. The company has a fifty day simple moving average of $129.87 and a 200-day simple moving average of $126.16. The company has a market cap of $61.12 billion, a price-to-earnings ratio of -801.51 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The firm's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling

In other news, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $166.00, for a total value of $498,000.00. Following the completion of the transaction, the insider now owns 169,377 shares in the company, valued at approximately $28,116,582. This trade represents a 1.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michelle Zatlyn sold 35,098 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34. Following the completion of the transaction, the insider now owns 6,390 shares in the company, valued at approximately $1,002,143.70. The trade was a 84.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 504,085 shares of company stock worth $65,810,967. Corporate insiders own 12.83% of the company's stock.

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.