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

KBC Group NV raised its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 9.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 40,655 shares of the company's stock after acquiring an additional 3,418 shares during the period. KBC Group NV's holdings in Cloudflare were worth $4,378,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of NET. Geode Capital Management LLC lifted its stake in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company's stock worth $390,130,000 after purchasing an additional 121,810 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company's stock worth $93,656,000 after purchasing an additional 29,960 shares during the period. Swiss National Bank lifted its stake in shares of Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company's stock worth $72,283,000 after purchasing an additional 10,100 shares during the period. National Pension Service lifted its stake in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company's stock worth $38,174,000 after purchasing an additional 4,062 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc lifted its stake in shares of Cloudflare by 16.8% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company's stock worth $42,602,000 after purchasing an additional 56,906 shares during the period. Institutional investors own 82.68% of the company's stock.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 15,000 shares of the company's stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at $24,422,966.37. This represents a 5.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $95.59, for a total transaction of $5,007,386.56. Following the transaction, the chief executive officer now owns 192,177 shares in the company, valued at approximately $18,370,199.43. This trade represents a 21.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 631,257 shares of company stock valued at $68,558,258. 12.83% of the stock is currently owned by insiders.

Cloudflare Trading Up 2.8 %

Shares of NET traded up $3.89 during trading hours on Friday, reaching $141.15. 1,497,928 shares of the company traded hands, compared to its average volume of 3,035,978. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $142.41. The stock's fifty day moving average price is $113.71 and its 200 day moving average price is $94.18. The firm has a market cap of $48.44 billion, a price-to-earnings ratio of -543.10 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.

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NET. Royal Bank of Canada increased their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the stock an "outperform" rating in a research note on Friday, January 3rd. Stifel Nicolaus upgraded shares of Cloudflare from a "hold" rating to a "buy" rating and raised their target price for the stock from $95.00 to $136.00 in a research note on Tuesday, December 17th. BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an "underperform" rating and a $65.00 target price on the stock. The Goldman Sachs Group upgraded shares of Cloudflare from a "sell" rating to a "buy" rating and raised their target price for the stock from $77.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Truist Financial raised their target price on shares of Cloudflare from $120.00 to $140.00 and gave the stock a "buy" rating in a research note on Tuesday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $109.72.

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.