Cloudflare, Inc. (NYSE:NET) Shares Bought by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Cloudflare, Inc. (NYSE:NET) by 16.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 395,303 shares of the company’s stock after acquiring an additional 56,906 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cloudflare were worth $42,602,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Hartline Investment Corp grew its position in shares of Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare in the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. grew its holdings in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service increased its position in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Cloudflare in the second quarter worth $7,319,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on NET shares. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Jefferies Financial Group boosted their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald started coverage on Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target for the company. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Finally, Mizuho upped their target price on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $108.32.

Cloudflare Stock Performance

NYSE:NET opened at $125.19 on Friday. The business has a 50 day simple moving average of $110.70 and a 200 day simple moving average of $92.72. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $125.71.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $21,403,676.25. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $24,422,966.37. The trade was a 5.06 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 641,132 shares of company stock worth $69,429,058. Insiders own 12.83% of the company’s stock.

Cloudflare Company 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.