APG Asset Management US Inc. Makes New Investment in Cloudflare, Inc. (NYSE:NET)

APG Asset Management US Inc. acquired a new position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 9,580 shares of the company's stock, valued at approximately $1,032,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its position in Cloudflare by 1.4% in the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock worth $526,986,000 after purchasing an additional 68,661 shares during the period. Groupama Asset Managment bought a new position in Cloudflare during the fourth quarter valued at about $269,200,000. Norges Bank bought a new position in shares of Cloudflare during the 4th quarter valued at about $249,544,000. American Century Companies Inc. grew its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company's stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Cloudflare by 1.9% in the 4th quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company's stock worth $138,516,000 after purchasing an additional 23,641 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have issued reports on NET shares. JPMorgan Chase & Co. lifted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Morgan Stanley initiated coverage on Cloudflare in a report on Tuesday, March 18th. They set an "overweight" rating for the company. Stifel Nicolaus lifted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Scotiabank lifted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $134.88.

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Cloudflare Stock Performance

NYSE:NET traded up $0.59 during mid-day trading on Monday, hitting $106.84. 2,519,360 shares of the company's stock traded hands, compared to its average volume of 3,186,899. The firm has a market capitalization of $36.87 billion, a price-to-earnings ratio of -485.64 and a beta of 1.59. The firm has a 50 day moving average of $131.85 and a two-hundred day moving average of $113.71. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

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

Insider Buying and Selling

In other news, CEO Matthew Prince sold 52,384 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $100.88, for a total transaction of $5,284,497.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas James Kramer sold 2,481 shares of Cloudflare stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the sale, the insider now owns 175,688 shares in the company, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 561,973 shares of company stock valued at $73,056,260 over the last three months. 12.83% of the stock is owned by corporate insiders.

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.