AEGON ASSET MANAGEMENT UK Plc Cuts Stock Position in Cloudflare, Inc. (NYSE:NET)

AEGON ASSET MANAGEMENT UK Plc trimmed its position in shares of Cloudflare, Inc. (NYSE:NET) by 39.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 239,863 shares of the company’s stock after selling 155,440 shares during the quarter. AEGON ASSET MANAGEMENT UK Plc’s holdings in Cloudflare were worth $27,011,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Hartline Investment Corp grew its holdings in shares of Cloudflare by 1.5% in the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after acquiring an additional 3,957 shares during the period. Birchcreek Wealth Management LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at $215,000. Savant Capital LLC acquired a new stake in shares of Cloudflare during the fourth quarter valued at $237,000. Jones Financial Companies Lllp grew its holdings in shares of Cloudflare by 164.7% during the fourth quarter. Jones Financial Companies Lllp now owns 5,024 shares of the company’s stock worth $541,000 after buying an additional 3,126 shares in the last quarter. Finally, LPL Financial LLC grew its stake in Cloudflare by 3.4% in the 4th quarter. LPL Financial LLC now owns 122,171 shares of the company’s stock worth $13,155,000 after acquiring an additional 3,989 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on NET shares. Susquehanna lowered their price target on Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. The Goldman Sachs Group lowered their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Royal Bank of Canada decreased their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Finally, Jefferies Financial Group lowered their price target on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $141.79.

Insider Buying and Selling

In related news, insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the completion of the sale, the insider now owns 413,413 shares in the company, valued at approximately $54,095,091.05. This represents a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $116.47, for a total transaction of $6,101,164.48. Following the completion of the transaction, the chief executive officer now directly owns 413,413 shares of the company’s stock, valued at $48,150,212.11. This represents a 11.25% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 504,085 shares of company stock worth $65,810,967. Corporate insiders own 12.83% of the company’s stock.

Cloudflare Trading Up 2.4%

Shares of Cloudflare stock opened at $169.86 on Tuesday. The business has a fifty day simple moving average of $127.67 and a 200-day simple moving average of $125.52. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market cap of $58.87 billion, a price-to-earnings ratio of -772.08 and a beta of 1.78. 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, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same period in the previous year, the company posted $0.16 earnings per share. Cloudflare’s revenue was up 26.5% compared to the same quarter last year. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal 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.