Cloudflare, Inc. (NYSE:NET) Shares Purchased by APG Asset Management N.V.

APG Asset Management N.V. boosted its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 7.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 274,626 shares of the company’s stock after buying an additional 19,921 shares during the period. APG Asset Management N.V.’s holdings in Cloudflare were worth $21,224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its stake in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares during the period. Vanguard Group Inc. grew its stake in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after purchasing an additional 1,597,900 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after purchasing an additional 19,446 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on NET. Susquehanna raised their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Scotiabank started coverage on shares of Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price for the company. Robert W. Baird upped their price objective on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. Finally, Wolfe Research began coverage on shares of Cloudflare in a research note on Tuesday, July 16th. They set a “peer perform” rating on the stock. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $92.29.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 3,000 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now owns 195,303 shares of the company’s stock, valued at approximately $16,141,792.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, COO Michelle Zatlyn sold 102,580 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60. Following the sale, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at approximately $17,444,232.88. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $82.65, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now directly owns 195,303 shares of the company’s stock, valued at approximately $16,141,792.95. The disclosure for this sale can be found here. Insiders sold a total of 564,032 shares of company stock worth $45,444,694 over the last three months. Insiders own 12.83% of the company’s stock.

Cloudflare Trading Down 0.9 %

Shares of NET opened at $81.59 on Friday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $27.72 billion, a P/E ratio of -153.94 and a beta of 1.10. The firm has a 50-day moving average price of $79.73 and a 200 day moving average price of $82.02. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same period in the prior year, the firm posted ($0.12) earnings per share. The firm’s quarterly revenue was up 30.0% on a year-over-year basis. Sell-side analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current year.

About Cloudflare

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.