APG Asset Management US Inc. Takes $1.03 Million Position in Cloudflare, Inc. (NYSE:NET)

APG Asset Management US Inc. acquired a new stake in shares of Cloudflare, Inc. (NYSE:NET) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,580 shares of the company’s stock, valued at approximately $1,032,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Faithward Advisors LLC lifted its position in shares of Cloudflare by 2.1% in the fourth quarter. Faithward Advisors LLC now owns 45,762 shares of the company’s stock worth $4,928,000 after purchasing an additional 950 shares in the last quarter. APG Asset Management N.V. raised its position in Cloudflare by 981.2% during the fourth quarter. APG Asset Management N.V. now owns 179,271 shares of the company’s stock valued at $18,642,000 after acquiring an additional 162,691 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $425,000. Krane Funds Advisors LLC bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $229,000. Finally, Rathbones Group PLC raised its position in shares of Cloudflare by 23.5% in the fourth quarter. Rathbones Group PLC now owns 5,601 shares of the company’s stock valued at $603,000 after purchasing an additional 1,065 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 33,864 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at approximately $30,192,558.60. This trade represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Douglas James Kramer sold 9,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00. Following the completion of the sale, the insider now owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This trade represents a 4.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 507,278 shares of company stock worth $67,522,751 in the last ninety days. 12.83% of the stock is owned by insiders.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $113.11 on Thursday. 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 firm has a market capitalization of $39.03 billion, a PE ratio of -514.12 and a beta of 1.59. The business’s 50-day moving average price is $133.16 and its 200-day moving average price is $113.20. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NET shares. Jefferies Financial Group raised their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. The Goldman Sachs Group cut their price objective on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Piper Sandler cut their price target on Cloudflare from $131.00 to $112.00 and set a “neutral” rating for the company in a report on Tuesday. Needham & Company LLC dropped their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, March 13th. Finally, Royal Bank of Canada dropped their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $134.88.

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.