APG Asset Management N.V. Purchases 162,691 Shares of Cloudflare, Inc. (NYSE:NET)

APG Asset Management N.V. raised its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 981.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 179,271 shares of the company's stock after purchasing an additional 162,691 shares during the quarter. APG Asset Management N.V. owned 0.05% of Cloudflare worth $18,642,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of NET. Quarry LP raised its position in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares in the last quarter. Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after buying an additional 170 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after purchasing an additional 217 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in shares of Cloudflare during the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Cloudflare Price Performance

NYSE NET traded up $1.23 on Monday, reaching $107.48. The company's stock had a trading volume of 2,112,498 shares, compared to its average volume of 3,186,883. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. 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 business has a 50-day moving average price of $131.85 and a 200 day moving average price of $113.71. The firm has a market cap of $37.09 billion, a PE ratio of -488.55 and a beta of 1.59.

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Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Activity at Cloudflare

In other Cloudflare news, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the sale, the insider now owns 175,688 shares of the company's stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $143.39, for a total value of $7,511,341.76. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares in the company, valued at $59,279,290.07. The trade was a 11.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 561,973 shares of company stock valued at $73,056,260 over the last quarter. Corporate insiders own 12.83% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on NET shares. Guggenheim boosted their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the stock a "sell" rating in a research note on Friday, February 7th. Royal Bank of Canada decreased their price target on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Piper Sandler dropped their price target on Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Finally, Needham & Company LLC cut their price target on Cloudflare from $185.00 to $145.00 and set a "buy" rating on the stock 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's stock. Based on data from MarketBeat, Cloudflare currently has an average rating of "Hold" and an average target price of $134.88.

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.