KBC Group NV Increases Stock Holdings in Cloudflare, Inc. (NYSE:NET)

KBC Group NV grew its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 9.2% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,655 shares of the company’s stock after purchasing an additional 3,418 shares during the quarter. KBC Group NV’s holdings in Cloudflare were worth $4,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Hartline Investment Corp increased its holdings in Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in shares of Cloudflare in the 3rd quarter worth $25,588,000. Charles Schwab Investment Management Inc. raised its holdings in 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. National Pension Service lifted its position in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings in Cloudflare by 20.8% during the third quarter. Banque Cantonale Vaudoise now owns 36,753 shares of the company’s stock valued at $2,973,000 after purchasing an additional 6,326 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Morgan Stanley upped their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and raised their price objective for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Jefferies Financial Group upped their target price on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Cantor Fitzgerald began coverage on Cloudflare in a report on Friday, January 17th. They set a “neutral” rating and a $111.00 price target on the stock. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $109.72.

Insider Buying and Selling

In other Cloudflare news, CFO Thomas J. Seifert sold 31,136 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total value of $3,739,433.60. Following the transaction, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $30,369,566.90. This represents a 10.96 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $21,403,676.25. The trade was a 12.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 631,257 shares of company stock valued at $68,558,258. Company insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 0.6 %

NET opened at $137.20 on Friday. The stock has a 50-day moving average of $113.71 and a 200 day moving average of $94.18. 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 $140.25. The firm has a market cap of $47.09 billion, a P/E ratio of -527.70 and a beta of 1.10.

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

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.