19,542 Shares in Cloudflare, Inc. (NYSE:NET) Purchased by ASR Vermogensbeheer N.V.

Key Points

• ASR Vermogensbeheer N.V. acquired a new stake in Cloudflare, Inc., purchasing 19,542 shares valued at approximately $2.2 million in the first quarter.
• Insider trading activity includes the sale of 15,000 shares by Director Carl Ledbetter for nearly $3 million, resulting in a 1.42% decrease in his ownership.
• Analysts have mixed ratings on Cloudflare, with a consensus price target of $186.88 and various firms adjusting their price targets between $140.00 and $235.00.

ASR Vermogensbeheer N.V. bought a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 19,542 shares of the company's stock, valued at approximately $2,202,000.

A number of other institutional investors have also modified their holdings of the company. Capital World Investors grew its holdings 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. Vanguard Group Inc. grew its holdings in Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after purchasing an additional 538,850 shares during the period. Northern Trust Corp grew its holdings in Cloudflare by 13.5% in the fourth quarter. Northern Trust Corp now owns 1,849,143 shares of the company's stock valued at $199,116,000 after purchasing an additional 219,764 shares during the period. Invesco Ltd. grew its holdings in Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company's stock valued at $116,178,000 after purchasing an additional 804,059 shares during the period. Finally, Fred Alger Management LLC grew its holdings in Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after purchasing an additional 836,591 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Stock Up 0.5%

NET stock traded up $0.92 during mid-day trading on Tuesday, hitting $202.09. 2,240,106 shares of the company were exchanged, compared to its average volume of 3,681,040. The company has a market capitalization of $70.42 billion, a PE ratio of -594.38 and a beta of 1.84. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a twelve month low of $74.88 and a twelve month high of $219.00. The firm has a fifty day simple moving average of $189.78 and a 200 day simple moving average of $153.17.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm's revenue for the quarter was up 27.8% compared to the same quarter last year. During the same period last year, the business earned $0.20 EPS. On average, research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $190.68, for a total transaction of $4,889,225.88. Following the sale, the insider directly owned 6,390 shares of the company's stock, valued at approximately $1,218,445.20. This represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction on Friday, August 1st. The stock was sold at an average price of $198.22, for a total transaction of $594,660.00. Following the sale, the insider directly owned 157,377 shares in the company, valued at $31,195,268.94. This trade represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 638,678 shares of company stock valued at $114,296,189 in the last ninety days. 10.89% of the stock is owned by insiders.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent analyst reports. Scotiabank boosted their target price on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a report on Friday, August 1st. Capital One Financial upgraded shares of Cloudflare from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 8th. Piper Sandler boosted their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Oppenheimer reiterated an "outperform" rating and set a $200.00 price objective (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Finally, CICC Research upgraded shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective for the company in a research note on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of "Moderate Buy" and an average target price of $186.88.

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.