Robocap Asset Management Ltd Sells 7,760 Shares of Cloudflare, Inc. $NET

Key Points

• Robocap Asset Management Ltd cut its stake in Cloudflare by 32.1%, selling 7,760 shares and leaving 16,401 shares worth $3.233 million, which represents about 2.9% of its portfolio and its 15th-largest holding.
• Insider activity shows notable selling: the CFO sold 10,000 shares and insiders disposed of 619,238 shares valued at $121.07 million over the last quarter, with insiders now owning 10.89% of the company.
• Cloudflare beat quarterly EPS estimates ($0.28 vs. $0.27) and reported revenue of $614.51 million (up 33.6% YoY), but still has negative net margins and ROE; analysts hold a consensus "Moderate Buy" rating with an average target of $232.62.

Robocap Asset Management Ltd decreased its holdings in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 32.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,401 shares of the company's stock after selling 7,760 shares during the quarter. Cloudflare comprises approximately 2.9% of Robocap Asset Management Ltd's portfolio, making the stock its 15th biggest holding. Robocap Asset Management Ltd's holdings in Cloudflare were worth $3,233,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Physician Wealth Advisors Inc. raised its holdings in Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock valued at $26,000 after acquiring an additional 104 shares during the period. Wiser Advisor Group LLC bought a new stake in Cloudflare during the 3rd quarter valued at $26,000. Westside Investment Management Inc. raised its holdings in Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock valued at $28,000 after acquiring an additional 65 shares during the period. ORG Wealth Partners LLC raised its holdings in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company's stock valued at $30,000 after acquiring an additional 70 shares during the period. Finally, Wexford Capital LP bought a new stake in Cloudflare during the 3rd quarter valued at $30,000. Institutional investors own 82.68% of the company's stock.

Cloudflare Stock Up 6.3%

Shares of NYSE:NET opened at $217.82 on Friday. The firm has a fifty day moving average of $199.89 and a 200 day moving average of $200.17. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a 52-week low of $120.46 and a 52-week high of $260.00. The firm has a market capitalization of $76.67 billion, a PE ratio of -751.07 and a beta of 1.67.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly 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. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The business had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. During the same period in the prior year, the business posted $0.19 earnings per share. The company's revenue was up 33.6% on a year-over-year basis. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Mark J. Hawkins sold 133 shares of the company's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $209.60, for a total transaction of $27,876.80. Following the completion of the sale, the director directly owned 10,322 shares in the company, valued at $2,163,491.20. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas J. Seifert sold 10,000 shares of the company's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of $197.98, for a total transaction of $1,979,800.00. Following the sale, the chief financial officer owned 221,681 shares of the company's stock, valued at approximately $43,888,404.38. The trade was a 4.32% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 619,238 shares of company stock valued at $121,070,031. 10.89% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of analyst reports. Royal Bank Of Canada boosted their target price on shares of Cloudflare from $230.00 to $240.00 and gave the company an "outperform" rating in a report on Wednesday, February 11th. The Goldman Sachs Group lowered shares of Cloudflare from a "buy" rating to a "sell" rating in a research report on Wednesday, April 15th. New Street Research set a $140.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Robert W. Baird set a $260.00 price target on shares of Cloudflare and gave the company an "outperform" rating in a research report on Wednesday, February 11th. Finally, Mizuho reduced their price target on shares of Cloudflare from $255.00 to $235.00 and set an "outperform" rating for the company in a research report on Tuesday, April 14th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $232.62.

Cloudflare Company 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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