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

KBC Group NV increased its position in Cloudflare, Inc. (NYSE:NET) by 9.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,655 shares of the company’s stock after buying 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 and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of NET. Geode Capital Management LLC boosted 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 valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the period. Swiss National Bank increased its holdings in shares of Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after buying 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 valued at $38,174,000 after acquiring an additional 4,062 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its holdings in Cloudflare by 16.8% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock valued at $42,602,000 after acquiring an additional 56,906 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Stock Up 0.6 %

NET stock opened at $137.20 on Friday. The business has a 50 day moving average of $113.71 and a 200 day moving average of $94.18. The firm has a market cap of $47.09 billion, a PE ratio of -527.70 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $140.25. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly 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 during 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%. On average, research analysts forecast that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the subject of several recent research reports. Truist Financial boosted their price objective on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price target for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Morgan Stanley boosted their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Piper Sandler increased their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, UBS Group boosted their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $109.72.

Insiders Place Their Bets

In other news, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $95.59, for a total value of $5,007,386.56. Following the completion of the transaction, the chief executive officer now owns 192,177 shares in the company, valued at $18,370,199.43. The trade was a 21.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $24,422,966.37. This trade represents a 5.06 % decrease in their ownership of the stock. 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. Insiders own 12.83% of the company’s stock.

Cloudflare 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.