Forte Capital LLC ADV Has $23.17 Million Holdings in Cloudflare, Inc. $NET

Key Points

• Forte Capital LLC ADV reduced its stake in Cloudflare, Inc. by 7.5% in Q2, now holding approximately $23.17 million in shares, accounting for about 2.5% of its portfolio.
• Shares of Cloudflare opened at $228.21 and have experienced significant fluctuations, with a 1-year low of $77.80 and a high of $230.10.
• Analysts have varied outlooks on Cloudflare, with target prices ranging from $70.00 to $255.00, and a consensus rating of "Moderate Buy."

Forte Capital LLC ADV cut its stake in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 118,334 shares of the company's stock after selling 9,591 shares during the quarter. Cloudflare accounts for about 2.5% of Forte Capital LLC ADV's portfolio, making the stock its 8th largest position. Forte Capital LLC ADV's holdings in Cloudflare were worth $23,173,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NET. Mather Group LLC. increased its holdings in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new stake in Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its position in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after acquiring an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after acquiring an additional 142 shares during the last quarter. Finally, Global Financial Private Client LLC grew its stake in shares of Cloudflare by 38,100.0% in the first quarter. Global Financial Private Client LLC now owns 382 shares of the company's stock worth $43,000 after purchasing an additional 381 shares during the last quarter. Institutional investors own 82.68% of the company's stock.

Cloudflare Price Performance

Shares of NYSE:NET opened at $228.21 on Tuesday. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market cap of $79.52 billion, a PE ratio of -671.19 and a beta of 1.95. The stock's fifty day simple moving average is $205.56 and its two-hundred day simple moving average is $165.78. Cloudflare, Inc. has a 1-year low of $77.80 and a 1-year high of $230.10.

Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $501.58 million. During the same quarter in the prior year, the company posted $0.20 earnings per share. The firm's revenue for the quarter was up 27.8% on a year-over-year basis. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on NET. Guggenheim raised their target price on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research report on Friday, August 1st. DZ Bank restated a "sell" rating and set a $170.00 price objective on shares of Cloudflare in a research report on Tuesday, July 22nd. Citigroup upped their target price on Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. Scotiabank increased their target price on shares of Cloudflare from $135.00 to $200.00 and gave the company a "sector perform" rating in a research report on Friday, August 1st. Finally, Cowen restated a "buy" rating on shares of Cloudflare in a research report on Monday, June 16th. One analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Cloudflare currently has a consensus rating of "Moderate Buy" and an average target price of $191.28.

Insiders Place Their Bets

In other news, CFO Thomas J. Seifert sold 59,130 shares of the company's stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $200.30, for a total value of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,382,465. This represents a 19.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Michelle Zatlyn sold 35,100 shares of Cloudflare stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $191.71, for a total value of $6,729,021.00. Following the sale, the insider owned 14,575 shares in the company, valued at $2,794,173.25. This trade represents a 70.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 690,738 shares of company stock worth $137,603,592 over the last 90 days. 10.89% of the stock is currently owned by corporate insiders.

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.

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