KBC Group NV Has $5.57 Million Stake in Cloudflare, Inc. (NYSE:NET)

KBC Group NV boosted its position in shares of Cloudflare, Inc. (NYSE:NET) by 21.6% during the 1st quarter, HoldingsChannel reports. The firm owned 49,451 shares of the company’s stock after buying an additional 8,796 shares during the quarter. KBC Group NV’s holdings in Cloudflare were worth $5,573,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in NET. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter worth $27,000. GPS Wealth Strategies Group LLC increased its position in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the 4th quarter valued at about $43,000. Finally, Global Financial Private Client LLC lifted its holdings in shares of Cloudflare by 38,100.0% during the 1st quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock valued at $43,000 after buying an additional 381 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Up 0.3%

Shares of Cloudflare stock opened at $185.45 on Thursday. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $198.01. The company’s fifty day simple moving average is $159.94 and its 200-day simple moving average is $136.78. The company has a market cap of $64.28 billion, a price-to-earnings ratio of -806.30 and a beta of 1.85. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90.

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 4.62% and a negative return on equity of 6.31%. The company had revenue of $479.09 million during the quarter, compared to the consensus estimate of $469.49 million. During the same period last year, the company earned $0.16 earnings per share. Cloudflare’s revenue for the quarter was up 26.5% on a year-over-year basis. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts recently commented on NET shares. Jefferies Financial Group dropped their price objective on Cloudflare from $170.00 to $150.00 and set a “hold” rating on the stock in a report on Friday, May 9th. Guggenheim increased their price target on shares of Cloudflare from $68.00 to $70.00 and gave the stock a “sell” rating in a research note on Friday, May 9th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and raised their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Morgan Stanley upped their price objective on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Finally, KeyCorp initiated coverage on shares of Cloudflare in a research report on Friday, June 6th. They set an “overweight” rating and a $210.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $145.92.

Insiders Place Their Bets

In other Cloudflare news, insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $171.41, for a total value of $4,395,123.81. Following the completion of the sale, the insider owned 6,390 shares in the company, valued at approximately $1,095,309.90. This trade represents a 80.05% 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 Cloudflare stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $171.25, for a total value of $8,970,760.00. Following the sale, the chief executive officer directly owned 381,213 shares in the company, valued at $65,282,726.25. The trade was a 12.08% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 530,987 shares of company stock valued at $80,832,794 in the last quarter. 10.89% of the stock is currently owned by insiders.

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.