KBC Group NV Buys 117,155 Shares of Cloudflare, Inc. $NET

Key Points

• KBC Group NV raised its stake in Cloudflare (NET) by 14.3% in Q4, buying 117,155 shares to hold 936,921 shares worth $184,713,000 (about 0.27% of the company).
• Company insiders have been net sellers recently — CEO Matthew Prince and CFO Thomas Seifert made disclosed sales and insiders sold a total of $111.41 million (572,965 shares) in the past 90 days; insiders now own 10.89% of the stock.
• Cloudflare slightly beat quarterly estimates (EPS $0.28 vs $0.27; revenue $614.5M vs $591.7M) with revenue up 33.6%, but still posts negative net margin and ROE; analysts' consensus is a Moderate Buy with an average target of $232.62.

KBC Group NV lifted its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 14.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 936,921 shares of the company's stock after purchasing an additional 117,155 shares during the period. KBC Group NV owned 0.27% of Cloudflare worth $184,713,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of NET. Physician Wealth Advisors Inc. increased its holdings in Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after purchasing an additional 104 shares during the period. Wiser Advisor Group LLC purchased a new stake in shares of Cloudflare in the 3rd quarter worth $26,000. Westside Investment Management Inc. lifted its holdings in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock worth $28,000 after buying an additional 65 shares during the period. ORG Wealth Partners LLC grew its position in shares of Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company's stock worth $30,000 after buying an additional 70 shares in the last quarter. Finally, Wexford Capital LP bought a new position in shares of Cloudflare during the 3rd quarter worth $30,000. Institutional investors own 82.68% of the company's stock.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 659 shares of Cloudflare stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $223.62, for a total value of $147,365.58. Following the transaction, the chief executive officer owned 406,315 shares of the company's stock, valued at $90,860,160.30. The trade was a 0.16% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,341 shares of the business's stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $212.30, for a total transaction of $2,195,394.30. Following the transaction, the chief financial officer owned 224,625 shares of the company's stock, valued at approximately $47,687,887.50. This trade represents a 4.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 572,965 shares of company stock worth $111,409,912. Insiders own 10.89% of the company's stock.

Cloudflare Trading Up 6.2%

Shares of NYSE NET opened at $189.76 on Thursday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The stock has a market capitalization of $66.79 billion, a P/E ratio of -654.32 and a beta of 1.87. Cloudflare, Inc. has a 1-year low of $100.25 and a 1-year high of $260.00. The business has a fifty day moving average price of $195.25 and a 200 day moving average price of $201.15.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The firm's quarterly revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.19 earnings per share. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on the company. KeyCorp downgraded Cloudflare from an "overweight" rating to a "sector weight" rating in a report on Wednesday. Scotiabank dropped their target price on shares of Cloudflare from $255.00 to $225.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 11th. Cantor Fitzgerald reissued a "neutral" rating and set a $224.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. Susquehanna set a $190.00 price target on shares of Cloudflare in a report on Thursday, February 12th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Cloudflare in a research report on Wednesday, January 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $232.62.

Cloudflare Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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