Cloudflare, Inc. $NET Position Cut by Robeco Institutional Asset Management B.V.

Robeco Institutional Asset Management B.V. trimmed its stake in Cloudflare, Inc. (NYSE:NET) by 29.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 13,482 shares of the company’s stock after selling 5,693 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Cloudflare were worth $2,658,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently added to or reduced their stakes in NET. Empowered Funds LLC lifted its stake in Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after buying an additional 1,696 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Cloudflare in the second quarter valued at $424,000. Cerity Partners LLC lifted its stake in Cloudflare by 30.1% in the second quarter. Cerity Partners LLC now owns 27,531 shares of the company’s stock valued at $5,391,000 after buying an additional 6,363 shares during the last quarter. Sei Investments Co. lifted its stake in Cloudflare by 40.1% in the second quarter. Sei Investments Co. now owns 329,036 shares of the company’s stock valued at $64,432,000 after buying an additional 94,112 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Cloudflare by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company’s stock valued at $3,224,000 after buying an additional 2,093 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NET has been the topic of a number of recent research reports. The Goldman Sachs Group cut Cloudflare from a “buy” rating to a “sell” rating in a research note on Wednesday. Robert W. Baird set a $260.00 target price on Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, February 13th. Morgan Stanley set a $245.00 target price on Cloudflare in a research note on Wednesday, February 11th. Finally, New Street Research set a $140.00 target price on Cloudflare in a research note on Wednesday, February 11th. One 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 issued a Sell rating to the company. According to MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and an average price target of $232.62.

Insider Buying and Selling at Cloudflare

In related news, Director Carl Ledbetter sold 15,000 shares of Cloudflare stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $227.05, for a total transaction of $3,405,750.00. Following the transaction, the director directly owned 938,073 shares of the company’s stock, valued at $212,989,474.65. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Matthew Prince sold 659 shares of Cloudflare stock in a transaction dated Wednesday, April 8th. The stock was sold at an average price of $223.62, for a total value of $147,365.58. Following the transaction, the chief executive officer directly owned 406,315 shares in the company, valued at approximately $90,860,160.30. The trade was a 0.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 572,965 shares of company stock valued at $111,409,912. 10.89% of the stock is currently owned by insiders.

Cloudflare Price Performance

Shares of NYSE NET opened at $197.32 on Friday. Cloudflare, Inc. has a fifty-two week low of $100.25 and a fifty-two week high of $260.00. The firm’s 50-day simple moving average is $195.94 and its 200 day simple moving average is $201.13. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock has a market cap of $69.45 billion, a P/E ratio of -680.38 and a beta of 1.87.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $591.67 million. During the same period in the previous year, the business earned $0.19 earnings per share. The company’s revenue was up 33.6% on a year-over-year basis. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Cloudflare 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.