ASR Vermogensbeheer N.V. Makes New Investment in Cloudflare, Inc. (NYSE:NET)

ASR Vermogensbeheer N.V. purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 19,542 shares of the company’s stock, valued at approximately $2,202,000.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Cloudflare by 86.8% in the first quarter. GAMMA Investing LLC now owns 1,093 shares of the company’s stock worth $123,000 after acquiring an additional 508 shares during the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Cloudflare by 9.6% in the first quarter. Crossmark Global Holdings Inc. now owns 2,635 shares of the company’s stock worth $297,000 after acquiring an additional 230 shares during the last quarter. Amalgamated Bank boosted its position in shares of Cloudflare by 7.0% in the first quarter. Amalgamated Bank now owns 21,402 shares of the company’s stock worth $2,412,000 after acquiring an additional 1,400 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Cloudflare by 47.0% in the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock worth $639,000 after acquiring an additional 1,896 shares during the last quarter. Finally, Yousif Capital Management LLC boosted its position in shares of Cloudflare by 2.5% in the first quarter. Yousif Capital Management LLC now owns 3,969 shares of the company’s stock worth $447,000 after acquiring an additional 98 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Down 2.8%

NET opened at $204.53 on Friday. The firm has a market capitalization of $70.89 billion, a P/E ratio of -601.56 and a beta of 1.84. The firm’s 50 day moving average is $189.16 and its 200-day moving average is $152.24. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 52-week low of $74.88 and a 52-week high of $219.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The firm had revenue of $512.32 million for the quarter, compared to analysts’ expectations of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The firm’s quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.20 earnings per share. Analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Insider Transactions at Cloudflare

In related news, insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction on Thursday, July 17th. The shares were sold at an average price of $190.68, for a total value of $4,889,225.88. Following the sale, the insider directly owned 6,390 shares of the company’s stock, valued at $1,218,445.20. This represents a 80.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Carl Ledbetter sold 15,000 shares of the company’s stock in a transaction on Monday, July 28th. The shares were sold at an average price of $199.85, for a total transaction of $2,997,750.00. Following the completion of the sale, the director directly owned 1,043,073 shares in the company, valued at $208,458,139.05. This represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 691,062 shares of company stock valued at $122,093,547 over the last ninety days. 10.89% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

NET has been the topic of several research reports. Mizuho raised their price target on shares of Cloudflare from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, August 1st. Guggenheim lifted their price target on shares of Cloudflare from $70.00 to $111.00 and gave the company a “sell” rating in a research report on Friday, August 1st. UBS Group lifted their price target on shares of Cloudflare from $145.00 to $200.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Oppenheimer reaffirmed an “outperform” rating and set a $200.00 price target (up from $165.00) on shares of Cloudflare in a research report on Thursday, June 5th. Finally, Susquehanna reduced their price target on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday, May 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.88.

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.