APG Asset Management N.V. Has $37.32 Million Position in Cloudflare, Inc. $NET

APG Asset Management N.V. lifted its position in Cloudflare, Inc. (NYSE:NET) by 2.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 173,900 shares of the company’s stock after acquiring an additional 4,900 shares during the period. APG Asset Management N.V.’s holdings in Cloudflare were worth $37,317,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Physician Wealth Advisors Inc. raised its holdings in Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares during the period. Westside Investment Management Inc. increased its position in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Cloudflare in the 2nd quarter valued at $29,000. ORG Wealth Partners LLC raised its stake in Cloudflare by 101.4% during the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after buying an additional 70 shares during the period. Finally, Cloud Capital Management LLC bought a new position in Cloudflare during the third quarter worth about $31,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insiders Place Their Bets

In other Cloudflare news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $176.19, for a total transaction of $528,570.00. Following the transaction, the insider owned 101,101 shares of the company’s stock, valued at $17,812,985.19. The trade was a 2.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $173.78, for a total value of $9,103,291.52. Following the completion of the sale, the chief executive officer owned 22,911 shares in the company, valued at $3,981,473.58. This represents a 69.57% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 607,646 shares of company stock worth $115,296,962 in the last three months. Insiders own 10.89% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of research analyst reports. TD Cowen reaffirmed a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Cantor Fitzgerald reissued a “neutral” rating and set a $224.00 target price on shares of Cloudflare in a research note on Wednesday, February 11th. Wall Street Zen raised shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Mizuho lowered their price objective on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a research report on Wednesday, January 21st. Finally, Wells Fargo & Company raised their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $230.70.

Cloudflare Price Performance

NYSE:NET opened at $171.80 on Monday. The stock has a market capitalization of $60.18 billion, a PE ratio of -592.38 and a beta of 1.98. Cloudflare, Inc. has a 1-year low of $89.42 and a 1-year high of $260.00. The firm has a fifty day simple moving average of $185.86 and a 200 day simple moving average of $202.97. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35.

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

About Cloudflare

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.