Cloudflare, Inc. (NYSE:NET) Shares Bought by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. raised its position in Cloudflare, Inc. (NYSE:NET) by 1.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 115,400 shares of the company’s stock after purchasing an additional 1,900 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Cloudflare were worth $12,426,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NET. Allspring Global Investments Holdings LLC boosted its holdings in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after purchasing an additional 119 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Cloudflare by 21.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 3,455 shares of the company’s stock valued at $279,000 after purchasing an additional 602 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Cloudflare by 20.7% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 25,014 shares of the company’s stock valued at $2,023,000 after purchasing an additional 4,298 shares during the last quarter. Pallas Capital Advisors LLC acquired a new position in Cloudflare in the 3rd quarter valued at about $248,000. Finally, abrdn plc boosted its holdings in Cloudflare by 30.9% in the 3rd quarter. abrdn plc now owns 76,770 shares of the company’s stock valued at $6,210,000 after purchasing an additional 18,132 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on NET. UBS Group upped their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Piper Sandler upped their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Robert W. Baird restated a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. Finally, Mizuho upped their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, February 10th. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $136.28.

Cloudflare Trading Up 3.4 %

Shares of NYSE:NET opened at $145.48 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company’s 50 day moving average is $132.65 and its two-hundred day moving average is $104.96. 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 company has a market cap of $49.93 billion, a PE ratio of -661.26 and a beta of 1.12.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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%. Equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $145.04, for a total value of $7,597,775.36. Following the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $59,961,421.52. This trade represents a 11.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Janel Riley sold 4,327 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 638,046 shares of company stock valued at $81,243,344 in the last ninety days. Insiders own 12.83% of the company’s stock.

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.