Forte Capital LLC ADV Sells 2,128 Shares of Cloudflare, Inc. (NYSE:NET)

Forte Capital LLC ADV lowered its position in shares of Cloudflare, Inc. (NYSE:NET - Free Report) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 131,835 shares of the company's stock after selling 2,128 shares during the quarter. Cloudflare makes up about 1.6% of Forte Capital LLC ADV's investment portfolio, making the stock its 15th largest position. Forte Capital LLC ADV's holdings in Cloudflare were worth $14,196,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter valued at about $38,000. Quarry LP boosted its position in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after buying an additional 133 shares during the period. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter worth about $54,000. Versant Capital Management Inc boosted its position in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company's stock worth $59,000 after buying an additional 170 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company's stock worth $63,000 after acquiring an additional 217 shares in the last quarter. Institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Mizuho upped their target price on Cloudflare from $130.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, February 10th. Oppenheimer lowered Cloudflare from an "outperform" rating to a "market perform" rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price objective on Cloudflare from $110.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. UBS Group upped their price objective on Cloudflare from $130.00 to $165.00 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a research note on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Cloudflare currently has an average rating of "Hold" and an average target price of $136.28.

Cloudflare Price Performance

NYSE:NET traded down $4.55 during trading hours on Friday, reaching $151.83. 3,652,849 shares of the company were exchanged, compared to its average volume of 3,999,010. The business has a 50 day moving average of $130.11 and a 200 day moving average of $103.08. The company has a market capitalization of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Insider Buying and Selling at Cloudflare

In other news, COO Michelle Zatlyn sold 35,118 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $18,212,582.70. This represents a 16.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $113.00, for a total value of $5,919,392.00. Following the completion of the transaction, the chief executive officer now owns 10,762 shares of the company's stock, valued at $1,216,106. The trade was a 82.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 533,297 shares of company stock valued at $62,604,696. 12.83% of the stock is currently 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.