Robeco Institutional Asset Management B.V. Trims Holdings in Cloudflare, Inc. $NET

Robeco Institutional Asset Management B.V. trimmed its position in Cloudflare, Inc. (NYSE:NET) by 29.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,482 shares of the company’s stock after selling 5,693 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Cloudflare were worth $2,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NET. Groupama Asset Managment increased its stake in shares of Cloudflare by 82.6% during the 3rd quarter. Groupama Asset Managment now owns 2,100,000 shares of the company’s stock valued at $450,639,000 after acquiring an additional 950,000 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Cloudflare by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock valued at $6,934,958,000 after acquiring an additional 821,684 shares during the last quarter. Rakuten Investment Management Inc. acquired a new position in shares of Cloudflare during the 3rd quarter valued at about $138,660,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Cloudflare by 96.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,302,893 shares of the company’s stock worth $279,588,000 after purchasing an additional 639,245 shares during the period. Finally, Federated Hermes Inc. raised its holdings in shares of Cloudflare by 63.5% in the 3rd quarter. Federated Hermes Inc. now owns 862,009 shares of the company’s stock worth $184,979,000 after purchasing an additional 334,875 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Matthew Prince sold 52,384 shares of the firm’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $173.78, for a total transaction of $9,103,291.52. Following the transaction, the chief executive officer directly owned 22,911 shares in the company, valued at $3,981,473.58. This trade represents a 69.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Michelle Zatlyn sold 35,080 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $187.39, for a total value of $6,573,641.20. Following the transaction, the insider owned 34,514 shares in the company, valued at $6,467,578.46. This trade represents a 50.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 572,965 shares of company stock worth $111,409,912 over the last ninety days. 10.89% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NET has been the subject of a number of research analyst reports. Needham & Company LLC dropped their target price on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Truist Financial set a $225.00 target price on shares of Cloudflare in a research report on Tuesday, January 20th. UBS Group reissued a “neutral” rating and set a $220.00 target price on shares of Cloudflare in a research report on Wednesday, February 11th. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a research report on Friday, February 13th. Finally, Zacks Research raised shares of Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $232.62.

Cloudflare Stock Performance

Cloudflare stock opened at $197.32 on Friday. The stock has a market cap of $69.45 billion, a P/E ratio of -680.38 and a beta of 1.87. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock has a 50 day moving average of $195.94 and a 200-day moving average of $201.13. Cloudflare, Inc. has a 52 week low of $100.25 and a 52 week high of $260.00.

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

About Cloudflare

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.