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

Key Points

• Fortis Capital Advisors LLC has acquired a new stake in Cloudflare, Inc., purchasing 7,787 shares valued at approximately $878,000 during the first quarter.
• Multiple brokerages have raised their target prices for Cloudflare, with UBS Group setting a new target of $200.00 and Royal Bank of Canada increasing their target to $228.00.
• Cloudflare reported a 27.8% year-over-year revenue increase, earning $0.21 per share in its latest quarterly earnings, exceeding analysts' expectations.

Fortis Capital Advisors LLC purchased a new stake in Cloudflare, Inc. (NYSE:NET - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 7,787 shares of the company's stock, valued at approximately $878,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Cloudflare by 1.8% in the first quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after buying an additional 538,850 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Cloudflare by 33.5% in 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 valued at $352,610,000 after buying an additional 786,063 shares during the period. American Century Companies Inc. boosted its holdings 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 purchasing an additional 779,819 shares during the last quarter. Northern Trust Corp boosted its holdings in Cloudflare by 1.7% during the first quarter. Northern Trust Corp now owns 1,880,888 shares of the company's stock worth $211,957,000 after purchasing an additional 31,745 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Cloudflare by 8.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,321,208 shares of the company's stock worth $148,887,000 after purchasing an additional 99,448 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. JMP Securities increased their target price on shares of Cloudflare from $180.00 to $225.00 and gave the stock a "market outperform" rating in a report on Monday, July 28th. Wells Fargo & Company increased their target price on shares of Cloudflare from $225.00 to $250.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Citigroup increased their target price on shares of Cloudflare from $240.00 to $255.00 and gave the stock a "buy" rating in a report on Monday, August 18th. UBS Group increased their target price on shares of Cloudflare from $145.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Piper Sandler increased their price target on shares of Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. One investment 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 given a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $191.28.

Insider Activity at Cloudflare

In other news, insider Michelle Zatlyn sold 35,100 shares of the stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $191.71, for a total value of $6,729,021.00. Following the transaction, the insider directly owned 14,575 shares of the company's stock, valued at $2,794,173.25. This represents a 70.66% decrease in their ownership of the stock. 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 59,130 shares of the stock in a transaction dated Monday, July 28th. The shares were sold at an average price of $200.30, for a total transaction of $11,843,739.00. Following the completion of the transaction, the chief financial officer directly owned 241,550 shares in the company, valued at $48,382,465. The trade was a 19.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 685,788 shares of company stock valued at $135,600,920 over the last three months. Company insiders own 10.89% of the company's stock.

Cloudflare Stock Performance

NET stock traded down $3.16 during trading hours on Friday, reaching $221.48. The stock had a trading volume of 1,552,402 shares, compared to its average volume of 2,007,794. The stock has a market capitalization of $77.18 billion, a PE ratio of -651.41 and a beta of 1.95. The company has a debt-to-equity ratio of 2.63, a current ratio of 5.14 and a quick ratio of 5.14. The stock has a 50-day simple moving average of $201.32 and a 200 day simple moving average of $161.96. Cloudflare, Inc. has a fifty-two week low of $77.60 and a fifty-two week high of $230.10.

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

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.