Robocap Asset Management Ltd Lowers Holdings in Cloudflare, Inc. (NYSE:NET)

Robocap Asset Management Ltd decreased its holdings in Cloudflare, Inc. (NYSE:NET - Free Report) by 44.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,636 shares of the company's stock after selling 28,446 shares during the quarter. Cloudflare makes up 3.0% of Robocap Asset Management Ltd's investment portfolio, making the stock its 18th biggest holding. Robocap Asset Management Ltd's holdings in Cloudflare were worth $4,016,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NET. CreativeOne Wealth LLC increased its position in shares of Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after acquiring an additional 58 shares in the last quarter. Spire Wealth Management increased its position in shares of Cloudflare by 11.0% during the first quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after acquiring an additional 95 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Cloudflare by 2.5% during the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company's stock worth $447,000 after acquiring an additional 98 shares in the last quarter. Baxter Bros Inc. increased its position in shares of 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 in the last quarter. Finally, Ellevest Inc. increased its position in shares of Cloudflare by 2.3% during the fourth quarter. Ellevest Inc. now owns 4,538 shares of the company's stock worth $489,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $196.09, for a total value of $1,764,810.00. Following the sale, the insider directly owned 160,377 shares in the company, valued at $31,448,325.93. This represents a 5.31% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $180.76, for a total transaction of $1,807,600.00. Following the completion of the sale, the chief financial officer owned 241,550 shares in the company, valued at $43,662,578. This represents a 3.98% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 581,060 shares of company stock valued at $95,040,197. 10.89% of the stock is owned by corporate insiders.

Cloudflare Stock Performance

Shares of Cloudflare stock traded down $0.74 on Friday, reaching $181.18. 2,780,115 shares of the company traded hands, compared to its average volume of 3,162,111. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $198.01. The company has a 50 day moving average of $169.44 and a 200 day moving average of $140.49. The firm has a market capitalization of $62.80 billion, a PE ratio of -787.74 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.16 earnings per share. Equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

NET has been the subject of several recent research reports. Royal Bank Of Canada decreased their target price on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research report on Thursday, March 13th. Mizuho raised shares of Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 price objective for the company in a research report on Wednesday, April 16th. Piper Sandler reaffirmed a "neutral" rating and issued a $151.00 price objective (up from $112.00) on shares of Cloudflare in a research report on Friday, May 9th. Jefferies Financial Group reduced their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Finally, Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $60.00 to $160.00 in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of "Hold" and a consensus target price of $148.92.

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.