Mn Services Vermogensbeheer B.V. Purchases 3,002 Shares of Cloudflare, Inc. $NET

Mn Services Vermogensbeheer B.V. raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 119,802 shares of the company’s stock after purchasing an additional 3,002 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cloudflare were worth $23,619,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Empowered Funds LLC increased its stake in shares of Cloudflare by 34.2% in the 1st quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after purchasing an additional 1,696 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Cloudflare during the 2nd quarter worth $424,000. Prudential Financial Inc. boosted its stake in Cloudflare by 50.8% in the second quarter. Prudential Financial Inc. now owns 20,685 shares of the company’s stock valued at $4,051,000 after buying an additional 6,972 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in Cloudflare by 7.0% in the second quarter. Steward Partners Investment Advisory LLC now owns 2,198 shares of the company’s stock valued at $430,000 after acquiring an additional 144 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in Cloudflare by 2.5% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 12,962 shares of the company’s stock valued at $2,538,000 after acquiring an additional 321 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $189.47, for a total value of $9,925,196.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,080 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20. Following the completion of the sale, the insider owned 34,514 shares of the company’s stock, valued at $6,467,578.46. The trade was a 50.41% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 632,902 shares of company stock valued at $120,753,082. Insiders own 10.89% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on NET shares. Scotiabank dropped their target price on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. TD Cowen reaffirmed a “buy” rating on shares of Cloudflare in a report on Tuesday, January 27th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Truist Financial set a $225.00 price objective on shares of Cloudflare in a research note on Tuesday, January 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $224.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Cloudflare Stock Performance

Cloudflare stock opened at $206.71 on Wednesday. The business has a 50 day moving average of $191.14 and a 200-day moving average of $202.81. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. 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 company has a market capitalization of $72.76 billion, a P/E ratio of -712.78 and a beta of 1.98.

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

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.