Cloudflare, Inc. (NYSE:NET) Shares Sold by Forte Capital LLC ADV

Forte Capital LLC ADV cut its holdings in shares of Cloudflare, Inc. (NYSE:NET) by 1.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 131,835 shares of the company’s stock after selling 2,128 shares during the period. Cloudflare comprises approximately 1.6% of Forte Capital LLC ADV’s investment portfolio, making the stock its 15th biggest holding. Forte Capital LLC ADV’s holdings in Cloudflare were worth $14,196,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in NET. Capital Performance Advisors LLP acquired a new position in Cloudflare during the third quarter valued at $38,000. Quarry LP raised its position in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Quest Partners LLC acquired a new position in shares of Cloudflare in the third quarter worth about $54,000. Versant Capital Management Inc raised its position in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its position in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Price Performance

Cloudflare stock opened at $156.52 on Friday. The firm has a market cap of $53.72 billion, a PE ratio of -711.47 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company’s 50 day moving average is $129.34 and its two-hundred day moving average is $102.57.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on NET. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Stifel Nicolaus upped their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Cloudflare in a research note on Tuesday. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $136.28.

Insider Buying and Selling at Cloudflare

In related news, insider Douglas James Kramer sold 2,481 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This trade represents a 1.39 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the completion of the transaction, the chief financial officer now directly owns 293,582 shares in the company, valued at $47,580,834.74. This trade represents a 8.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 533,297 shares of company stock valued at $62,604,696. Insiders own 12.83% of the company’s stock.

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.