Cloudflare, Inc. (NYSE:NET) Shares Acquired by KBC Group NV

KBC Group NV increased its position in shares of Cloudflare, Inc. (NYSE:NET) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 37,237 shares of the company’s stock after purchasing an additional 329 shares during the period. KBC Group NV’s holdings in Cloudflare were worth $3,012,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares during the last quarter. Elo Mutual Pension Insurance Co raised its position in shares of Cloudflare by 0.5% during the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock worth $2,253,000 after purchasing an additional 136 shares during the last quarter. Quarry LP raised its position in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Forum Financial Management LP lifted its stake in Cloudflare by 6.1% in the 2nd quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after buying an additional 162 shares in the last quarter. Finally, Soltis Investment Advisors LLC increased its position in Cloudflare by 0.5% during the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In related news, COO Michelle Zatlyn sold 35,117 shares of the stock in a transaction dated Tuesday, August 20th. The stock was sold at an average price of $83.74, for a total value of $2,940,697.58. Following the completion of the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at approximately $16,092,901.98. This represents a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the sale, the insider now owns 185,386 shares of the company’s stock, valued at approximately $15,114,520.58. This trade represents a 1.59 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 578,316 shares of company stock valued at $49,124,681 over the last 90 days. 12.83% of the stock is owned by corporate insiders.

Cloudflare Stock Down 2.3 %

Shares of Cloudflare stock opened at $89.77 on Monday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00. The stock has a market cap of $30.67 billion, a price-to-earnings ratio of -345.27 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a fifty day moving average price of $86.12 and a 200 day moving average price of $80.78.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of several recent research reports. Cantor Fitzgerald upped their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank raised their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler lifted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $92.88.

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.