Mn Services Vermogensbeheer B.V. Has $23.62 Million Stock Holdings in Cloudflare, Inc. $NET

Mn Services Vermogensbeheer B.V. increased its stake in shares of Cloudflare, Inc. (NYSE:NET) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 119,802 shares of the company’s stock after buying an additional 3,002 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Cloudflare were worth $23,619,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Private Advisory Group LLC raised its holdings in Cloudflare by 56.9% in the 4th quarter. Private Advisory Group LLC now owns 83,886 shares of the company’s stock valued at $16,538,000 after acquiring an additional 30,406 shares during the period. ORG Partners LLC boosted its holdings in shares of Cloudflare by 13.7% during the fourth quarter. ORG Partners LLC now owns 699 shares of the company’s stock worth $138,000 after acquiring an additional 84 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Cloudflare by 12.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 9,987 shares of the company’s stock worth $1,969,000 after acquiring an additional 1,107 shares during the period. Spire Wealth Management grew its position in shares of Cloudflare by 18.5% in the fourth quarter. Spire Wealth Management now owns 24,671 shares of the company’s stock valued at $4,864,000 after purchasing an additional 3,856 shares during the last quarter. Finally, Barnes Dennig Private Wealth Management LLC grew its position in shares of Cloudflare by 33.4% in the fourth quarter. Barnes Dennig Private Wealth Management LLC now owns 691 shares of the company’s stock valued at $136,000 after purchasing an additional 173 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Activity at Cloudflare

In other Cloudflare news, CEO Matthew Prince sold 52,384 shares of the stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $189.47, for a total transaction of $9,925,196.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Michelle Zatlyn sold 35,080 shares of the firm’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20. Following the completion of the transaction, the insider directly owned 34,514 shares in the company, valued at approximately $6,467,578.46. This represents a 50.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 632,902 shares of company stock valued at $120,753,082 over the last quarter. 10.89% of the stock is owned by corporate insiders.

Cloudflare Trading Up 6.2%

Shares of NYSE:NET opened at $206.71 on Wednesday. The business’s 50 day simple moving average is $191.14 and its 200 day simple moving average is $202.81. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The company has a market capitalization of $72.76 billion, a P/E ratio of -712.78 and a beta of 1.98.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. On average, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NET shares. KeyCorp reissued an “overweight” rating on shares of Cloudflare in a report on Wednesday, February 11th. Truist Financial set a $225.00 price objective on Cloudflare in a research report on Tuesday, January 20th. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Friday, February 13th. Jefferies Financial Group boosted their target price on shares of Cloudflare from $185.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Finally, Mizuho decreased their price target on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 21st. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $233.38.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.