Forte Capital LLC ADV Sells 1,145 Shares of Cloudflare, Inc. (NYSE:NET)

Forte Capital LLC ADV lowered its stake in shares of Cloudflare, Inc. (NYSE:NET) by 0.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 134,500 shares of the company’s stock after selling 1,145 shares during the period. Cloudflare makes up approximately 1.5% of Forte Capital LLC ADV’s holdings, making the stock its 20th biggest position. Forte Capital LLC ADV’s holdings in Cloudflare were worth $11,198,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Cloudflare by 1.5% in the 3rd quarter. Vanguard Group Inc. now owns 27,418,275 shares of the company’s stock worth $1,728,448,000 after purchasing an additional 395,363 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Cloudflare by 0.9% during the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,736,212 shares of the company’s stock worth $109,451,000 after acquiring an additional 14,984 shares during the period. Northern Trust Corp raised its stake in Cloudflare by 3.1% during the 3rd quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after acquiring an additional 51,345 shares during the period. Deutsche Bank AG raised its stake in Cloudflare by 5.1% during the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after acquiring an additional 65,596 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Cloudflare by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 983,507 shares of the company’s stock worth $62,000,000 after acquiring an additional 11,342 shares during the period. Institutional investors own 82.68% of the company’s stock.

Insider Buying and Selling at Cloudflare

In other Cloudflare news, CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $94.59, for a total value of $4,955,002.56. Following the sale, the chief executive officer now owns 12,183 shares in the company, valued at $1,152,389.97. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Thomas J. Seifert sold 50,000 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $110.11, for a total value of $5,505,500.00. Following the completion of the sale, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,029,347 shares of company stock worth $100,594,226. 12.83% of the stock is currently owned by insiders.

Cloudflare Stock Down 16.4 %

Shares of NET traded down $14.57 during trading hours on Friday, hitting $74.40. The company had a trading volume of 18,650,549 shares, compared to its average volume of 2,884,762. The company has a market capitalization of $25.12 billion, a PE ratio of -140.38 and a beta of 1.15. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company’s fifty day moving average price is $93.67 and its two-hundred day moving average price is $83.60.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. The company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on NET. JPMorgan Chase & Co. decreased their target price on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday. Cantor Fitzgerald cut their price objective on shares of Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a report on Friday. Mizuho cut their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a report on Friday. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday. Finally, DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a report on Tuesday, February 13th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.17.

About Cloudflare

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.