7,787 Shares in Cloudflare, Inc. $NET Purchased by Fortis Capital Advisors LLC

Fortis Capital Advisors LLC purchased a new position in shares of Cloudflare, Inc. (NYSE:NET) during the first quarter, Holdings Channel reports. The firm purchased 7,787 shares of the company’s stock, valued at approximately $878,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NET. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Cloudflare by 33.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company’s stock worth $352,610,000 after acquiring an additional 786,063 shares during the last quarter. Nuveen LLC acquired a new position in Cloudflare during the first quarter worth about $88,203,000. American Century Companies Inc. boosted its position in Cloudflare by 34.5% during the first quarter. American Century Companies Inc. now owns 3,037,420 shares of the company’s stock worth $342,287,000 after acquiring an additional 779,819 shares during the last quarter. Raymond James Financial Inc. boosted its position in Cloudflare by 129.7% during the first quarter. Raymond James Financial Inc. now owns 1,097,235 shares of the company’s stock worth $123,647,000 after acquiring an additional 619,526 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in Cloudflare by 1.8% during the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company’s stock worth $3,475,011,000 after acquiring an additional 538,850 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Cloudflare

In related news, CFO Thomas J. Seifert sold 34,270 shares of the stock in a transaction on Monday, July 21st. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90. Following the transaction, the chief financial officer directly owned 241,550 shares of the company’s stock, valued at $48,351,063.50. This trade represents a 12.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $171.25, for a total transaction of $8,970,760.00. Following the completion of the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at $65,282,726.25. This trade represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 633,896 shares of company stock valued at $121,424,464. Corporate insiders own 10.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on NET shares. Piper Sandler boosted their target price on shares of Cloudflare from $151.00 to $224.00 and gave the company a “neutral” rating in a report on Friday, August 1st. DZ Bank restated a “sell” rating and issued a $170.00 price objective on shares of Cloudflare in a report on Tuesday, July 22nd. Wells Fargo & Company upped their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. KeyCorp upped their target price on shares of Cloudflare from $210.00 to $235.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Finally, JMP Securities upped their target price on shares of Cloudflare from $180.00 to $225.00 and gave the stock a “market outperform” rating in a research note on Monday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, nine have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $191.28.

Cloudflare Price Performance

Shares of NET opened at $218.55 on Wednesday. Cloudflare, Inc. has a fifty-two week low of $74.88 and a fifty-two week high of $220.99. The firm’s 50 day moving average price is $199.30 and its 200 day moving average price is $160.46. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. The company has a market cap of $76.16 billion, a P/E ratio of -642.79 and a beta of 1.95.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. The company had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. During the same period in the prior year, the firm posted $0.20 EPS. The company’s quarterly revenue was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. On average, research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

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.