Mn Services Vermogensbeheer B.V. Sells 8,300 Shares of Cloudflare, Inc. (NYSE:NET)

Mn Services Vermogensbeheer B.V. lowered its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 7.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 107,100 shares of the company's stock after selling 8,300 shares during the quarter. Mn Services Vermogensbeheer B.V.'s holdings in Cloudflare were worth $12,069,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its stake in shares of 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 buying an additional 260,415 shares during the period. Geode Capital Management LLC boosted its stake in shares of Cloudflare by 1.4% in the fourth 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 bought a new stake in shares of Cloudflare in the fourth quarter valued at approximately $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the fourth quarter valued at approximately $249,544,000. Finally, American Century Companies Inc. boosted its stake in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock valued at $243,098,000 after buying an additional 1,017,399 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Insider Transactions at Cloudflare

In other news, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now owns 293,582 shares of the company's stock, valued at $35,229,840. This represents a 3.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at $54,095,091.05. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 609,601 shares of company stock valued at $87,251,258 in the last 90 days. 10.89% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NET shares. Needham & Company LLC boosted their price target on Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group cut their target price on Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research note on Friday, May 9th. Oppenheimer restated an "outperform" rating and set a $200.00 target price (up from $165.00) on shares of Cloudflare in a research note on Thursday, June 5th. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, Morgan Stanley upped their target price on Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $145.92.

Cloudflare Trading Up 4.2%

Cloudflare stock traded up $7.18 during trading hours on Monday, reaching $179.15. 4,298,333 shares of the company's stock were exchanged, compared to its average volume of 3,166,691. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm's 50 day simple moving average is $139.61 and its 200 day simple moving average is $130.28. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $181.81. The firm has a market capitalization of $62.10 billion, a PE ratio of -814.33 and a beta of 1.84.

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

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.