Fortis Group Advisors LLC Has $126,000 Holdings in Cloudflare, Inc. (NYSE:NET)

Fortis Group Advisors LLC increased its position in Cloudflare, Inc. (NYSE:NET) by 48.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,510 shares of the company’s stock after acquiring an additional 493 shares during the quarter. Fortis Group Advisors LLC’s holdings in Cloudflare were worth $126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NET. Integrated Advisors Network LLC acquired a new position in Cloudflare during the 4th quarter valued at $571,000. Firsthand Capital Management Inc. lifted its stake in shares of Cloudflare by 100.0% in the fourth quarter. Firsthand Capital Management Inc. now owns 80,000 shares of the company’s stock valued at $6,661,000 after buying an additional 40,000 shares during the period. Berkshire Capital Holdings Inc. grew its position in Cloudflare by 10.8% during the fourth quarter. Berkshire Capital Holdings Inc. now owns 159,750 shares of the company’s stock worth $13,301,000 after buying an additional 15,560 shares in the last quarter. RMB Capital Management LLC increased its stake in Cloudflare by 24.8% during the fourth quarter. RMB Capital Management LLC now owns 67,897 shares of the company’s stock valued at $5,653,000 after acquiring an additional 13,473 shares during the period. Finally, Elo Mutual Pension Insurance Co raised its holdings in Cloudflare by 5.0% in the 4th quarter. Elo Mutual Pension Insurance Co now owns 24,172 shares of the company’s stock valued at $2,013,000 after acquiring an additional 1,152 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Price Performance

Shares of NYSE:NET traded up $2.08 during midday trading on Friday, reaching $75.59. The company’s stock had a trading volume of 2,535,988 shares, compared to its average volume of 3,013,218. The business’s fifty day simple moving average is $79.33 and its 200-day simple moving average is $85.30. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company has a market capitalization of $25.68 billion, a P/E ratio of -142.62 and a beta of 1.08.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.05) by $0.02. The firm had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, Director Carl Ledbetter sold 9,993 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $100.16, for a total value of $1,000,898.88. Following the transaction, the director now directly owns 1,275,004 shares of the company’s stock, valued at $127,704,400.64. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Cloudflare news, Director Carl Ledbetter sold 9,993 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $100.16, for a total value of $1,000,898.88. Following the transaction, the director now owns 1,275,004 shares of the company’s stock, valued at $127,704,400.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $74.46, for a total value of $3,900,512.64. Following the transaction, the chief executive officer now owns 8,742 shares of the company’s stock, valued at $650,929.32. The disclosure for this sale can be found here. In the last three months, insiders have sold 670,087 shares of company stock worth $54,858,971. Company insiders own 12.83% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NET. The Goldman Sachs Group decreased their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a report on Tuesday, June 4th. Citigroup lowered their price target on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. Mizuho dropped their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Royal Bank of Canada decreased their target price on shares of Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Robert W. Baird dropped their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.70.

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.