Cloudflare, Inc. $NET Shares Sold by AEGON ASSET MANAGEMENT UK Plc

AEGON ASSET MANAGEMENT UK Plc lowered its holdings in Cloudflare, Inc. (NYSE:NET) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 155,006 shares of the company’s stock after selling 2,482 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cloudflare were worth $30,558,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Physician Wealth Advisors Inc. grew its position in Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares during the period. Wiser Advisor Group LLC acquired a new stake in Cloudflare during the third quarter valued at $26,000. Westside Investment Management Inc. grew its position in Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares during the period. ORG Wealth Partners LLC grew its position in Cloudflare by 101.4% during the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after buying an additional 70 shares during the period. Finally, Wexford Capital LP acquired a new stake in Cloudflare during the third quarter valued at $30,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NET stock opened at $207.29 on Friday. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The firm’s 50-day moving average is $198.63 and its two-hundred day moving average is $200.45. Cloudflare, Inc. has a 12 month low of $117.07 and a 12 month high of $260.00. The company has a market capitalization of $72.96 billion, a PE ratio of -714.77 and a beta of 1.87.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period in the previous year, the firm earned $0.19 earnings per share. Cloudflare’s quarterly revenue was up 33.6% compared to the same quarter last year. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

NET has been the topic of several research analyst reports. BTIG Research lifted their target price on shares of Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. TD Cowen reiterated a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Zacks Research upgraded shares of Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $224.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, The Goldman Sachs Group lowered shares of Cloudflare from a “buy” rating to a “sell” rating in a research report on Wednesday, April 15th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Moderate Buy” and a consensus target price of $232.62.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, March 18th. The shares were sold at an average price of $227.05, for a total transaction of $3,405,750.00. Following the completion of the sale, the director directly owned 938,073 shares in the company, valued at $212,989,474.65. This trade represents a 1.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $209.15, for a total transaction of $5,362,815.15. Following the sale, the insider owned 34,514 shares of the company’s stock, valued at approximately $7,218,603.10. This represents a 42.62% 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 624,247 shares of company stock valued at $122,080,874. 10.89% of the stock is currently owned by company insiders.

Cloudflare 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.