Fiera Capital Corp Has $19.77 Million Holdings in Cloudflare, Inc. $NET

Fiera Capital Corp lifted its stake in shares of Cloudflare, Inc. (NYSE:NET) by 20.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,116 shares of the company’s stock after acquiring an additional 15,932 shares during the period. Fiera Capital Corp’s holdings in Cloudflare were worth $19,767,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in NET. Avestar Capital LLC increased its holdings in Cloudflare by 18.4% during the 3rd quarter. Avestar Capital LLC now owns 2,407 shares of the company’s stock worth $517,000 after purchasing an additional 374 shares in the last quarter. NewEdge Wealth LLC boosted its position in shares of Cloudflare by 168.1% during the third quarter. NewEdge Wealth LLC now owns 8,053 shares of the company’s stock worth $1,840,000 after buying an additional 5,049 shares during the period. Readystate Asset Management LP bought a new position in shares of Cloudflare during the third quarter worth about $250,000. Drucker Wealth 3.0 LLC acquired a new stake in Cloudflare in the 3rd quarter valued at approximately $229,000. Finally, GSA Capital Partners LLP bought a new stake in Cloudflare in the 3rd quarter valued at approximately $461,000. 82.68% of the stock is owned by institutional investors.

Insider Transactions at Cloudflare

In related news, insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $208.61, for a total transaction of $5,348,969.01. Following the transaction, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $5,122,418.55. The trade was a 51.08% decrease in their position. The transaction 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 on Friday, December 5th. The shares were sold at an average price of $201.23, for a total value of $10,541,232.32. The SEC filing for this sale provides additional information. In the last three months, insiders sold 403,734 shares of company stock worth $79,426,703. 10.89% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NET. Scotiabank decreased their price target on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. Barclays raised their target price on shares of Cloudflare from $235.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, February 11th. Wells Fargo & Company boosted their price target on shares of Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Stifel Nicolaus increased their price objective on shares of Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Finally, Morgan Stanley set a $245.00 price objective on Cloudflare in a report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $230.70.

Cloudflare Stock Down 8.1%

Cloudflare stock opened at $176.99 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04. The company’s 50-day moving average is $188.52 and its 200-day moving average is $204.31. The firm has a market capitalization of $62.00 billion, a PE ratio of -610.29 and a beta of 1.97. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. Cloudflare’s revenue was up 33.6% on a year-over-year basis. During the same period last year, the business posted $0.19 EPS. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Cloudflare Profile

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.