Fiera Capital Corp Has $19.77 Million Holdings in Cloudflare, Inc. $NET

Fiera Capital Corp raised its position in shares of Cloudflare, Inc. (NYSE:NET) by 20.9% in the third quarter, HoldingsChannel reports. The fund owned 92,116 shares of the company’s stock after acquiring an additional 15,932 shares during the period. Fiera Capital Corp’s holdings in Cloudflare were worth $19,767,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Physician Wealth Advisors Inc. boosted its stake in Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after purchasing an additional 104 shares during the period. Westside Investment Management Inc. lifted its holdings in shares of Cloudflare by 100.0% during the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after buying an additional 65 shares in the last quarter. ORG Wealth Partners LLC boosted its position in shares of Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Cloudflare in the second quarter valued at about $29,000. Finally, Harbor Investment Advisory LLC bought a new position in Cloudflare during the third quarter worth about $32,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Insider Transactions at Cloudflare

In related news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were sold at an average price of $201.23, for a total transaction of $10,541,232.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $208.61, for a total transaction of $5,348,969.01. Following the completion of the transaction, the insider directly owned 24,555 shares of the company’s stock, valued at approximately $5,122,418.55. The trade was a 51.08% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 403,734 shares of company stock valued at $79,426,703. 10.89% of the stock is currently owned by insiders.

Analysts Set New Price Targets

NET has been the subject of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, January 21st. Needham & Company LLC dropped their price target on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating for the company in a research report on Wednesday, February 11th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. Jefferies Financial Group raised their price objective on Cloudflare from $185.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, February 11th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $220.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Cloudflare Stock Down 8.1%

NYSE NET opened at $176.99 on Friday. The business has a fifty day moving average price of $188.52 and a two-hundred day moving average price of $204.31. The stock has a market capitalization of $62.00 billion, a PE ratio of -610.29 and a beta of 1.97. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 2.04 and a quick ratio of 2.04.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The company had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. During the same quarter in the previous year, the firm earned $0.19 EPS. Cloudflare’s revenue was up 33.6% on a year-over-year basis. Equities analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.