Robeco Institutional Asset Management B.V. Has $568,000 Stock Position in Cloudflare, Inc. (NYSE:NET)

Robeco Institutional Asset Management B.V. cut its stake in Cloudflare, Inc. (NYSE:NET - Free Report) by 50.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,038 shares of the company's stock after selling 5,076 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in Cloudflare were worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Groupama Asset Managment acquired a new position in Cloudflare in the 4th quarter worth about $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $249,544,000. American Century Companies Inc. increased its holdings 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 buying an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC raised its position in Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company's stock valued at $100,604,000 after acquiring an additional 836,591 shares in the last quarter. Finally, Invesco Ltd. lifted its stake 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 acquiring an additional 804,059 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00. Following the sale, the chief executive officer directly owned 381,213 shares in the company, valued at approximately $65,282,726.25. This represents a 12.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $171.41, for a total value of $4,395,123.81. Following the transaction, the insider owned 6,390 shares of the company's stock, valued at $1,095,309.90. This trade represents a 80.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 530,987 shares of company stock valued at $80,832,794 over the last 90 days. Company insiders own 10.89% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Mizuho upgraded shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price target on the stock in a research note on Wednesday, April 16th. Oppenheimer reissued an "outperform" rating and set a $200.00 target price (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Needham & Company LLC raised their target price on Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. Susquehanna decreased their price target on Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Finally, CICC Research raised Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price objective on the stock in a report on Monday, May 12th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $145.92.

Cloudflare Stock Performance

Cloudflare stock traded up $5.62 during trading hours on Thursday, hitting $191.26. The stock had a trading volume of 1,848,809 shares, compared to its average volume of 3,152,063. The company has a 50-day moving average of $159.94 and a two-hundred day moving average of $136.78. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a fifty-two week low of $69.26 and a fifty-two week high of $198.01. The company has a market cap of $66.29 billion, a PE ratio of -831.54 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings data 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 firm had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The business's revenue for the quarter was up 26.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

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.