Fortis Capital Advisors LLC Has $1.79 Million Position in Cloudflare, Inc. $NET

Fortis Capital Advisors LLC raised its position in Cloudflare, Inc. (NYSE:NET - Free Report) by 17.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 9,118 shares of the company's stock after acquiring an additional 1,331 shares during the quarter. Fortis Capital Advisors LLC's holdings in Cloudflare were worth $1,786,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in NET. Vanguard Group Inc. lifted its stake in shares of Cloudflare by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock worth $3,475,011,000 after buying an additional 538,850 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Cloudflare by 33.5% during the 1st 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 buying an additional 786,063 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Cloudflare by 34.5% during the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock worth $342,287,000 after buying an additional 779,819 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Cloudflare by 1.7% during the 1st quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock worth $211,957,000 after buying an additional 31,745 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of Cloudflare by 8.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock worth $148,887,000 after buying an additional 99,448 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NET. Cowen restated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Bank of America raised their target price on shares of Cloudflare from $235.00 to $240.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Scotiabank raised their price target on shares of Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a research report on Friday, August 1st. KeyCorp raised their price target on shares of Cloudflare from $210.00 to $235.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Piper Sandler raised their price target on shares of Cloudflare from $151.00 to $224.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $191.28.

Cloudflare Price Performance

NET stock opened at $216.95 on Friday. The company has a quick ratio of 5.14, a current ratio of 5.14 and a debt-to-equity ratio of 2.63. Cloudflare, Inc. has a 12 month low of $79.16 and a 12 month high of $230.10. The firm has a market cap of $75.60 billion, a P/E ratio of -638.08 and a beta of 1.99. The company's 50-day moving average price is $210.27 and its two-hundred day moving average price is $171.44.

Cloudflare (NYSE:NET - Get Free Report) last released 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 firm had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. During the same period last year, the firm earned $0.20 EPS. The business'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, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Insider Activity

In other Cloudflare news, CFO Thomas J. Seifert sold 59,130 shares of the firm's stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total value of $11,843,739.00. Following the transaction, the chief financial officer directly owned 241,550 shares of the company's stock, valued at $48,382,465. This trade represents a 19.67% decrease in their position. The transaction was disclosed in a 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 dated Thursday, July 10th. The shares were sold at an average price of $184.58, for a total transaction of $9,669,038.72. Following the completion of the transaction, the chief executive officer directly owned 381,213 shares in the company, valued at approximately $70,364,295.54. This represents a 12.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 727,020 shares of company stock valued at $146,028,939 in the last 90 days. 10.89% of the stock is owned by corporate insiders.

Cloudflare 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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