Fiera Capital Corp Makes New Investment in Cloudflare, Inc. $NET

Fiera Capital Corp acquired a new stake in Cloudflare, Inc. (NYSE:NET) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 76,184 shares of the company’s stock, valued at approximately $14,919,000.

Other hedge funds have also modified their holdings of the company. Cerity Partners LLC boosted its stake in Cloudflare by 13.3% in the 1st quarter. Cerity Partners LLC now owns 21,168 shares of the company’s stock valued at $2,385,000 after buying an additional 2,489 shares in the last quarter. CWM LLC boosted its stake in shares of Cloudflare by 2.5% in the 1st quarter. CWM LLC now owns 11,692 shares of the company’s stock valued at $1,318,000 after purchasing an additional 283 shares in the last quarter. Massachusetts Financial Services Co. MA bought a new stake in shares of Cloudflare in the 1st quarter worth about $35,915,000. Wealthfront Advisers LLC grew its holdings in shares of Cloudflare by 3.8% in the 1st quarter. Wealthfront Advisers LLC now owns 27,447 shares of the company’s stock worth $3,093,000 after purchasing an additional 1,008 shares during the last quarter. Finally, Larson Financial Group LLC increased its position in shares of Cloudflare by 243.5% during the 1st quarter. Larson Financial Group LLC now owns 1,865 shares of the company’s stock worth $210,000 after purchasing an additional 1,322 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Trading Down 5.4%

Shares of NET opened at $213.58 on Friday. The stock’s fifty day simple moving average is $222.12 and its 200-day simple moving average is $194.39. The firm has a market capitalization of $74.81 billion, a PE ratio of -711.93 and a beta of 2.10. Cloudflare, Inc. has a 12-month low of $87.77 and a 12-month high of $260.00. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. KeyCorp boosted their price target on shares of Cloudflare from $235.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, October 31st. Stifel Nicolaus increased their price target on Cloudflare from $230.00 to $275.00 and gave the stock a “buy” rating in a research report on Friday, October 31st. Piper Sandler raised their price target on Cloudflare from $224.00 to $249.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Guggenheim reissued a “sell” rating on shares of Cloudflare in a research note on Tuesday, October 21st. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $235.35.

Insider Buying and Selling at Cloudflare

In other news, CFO Thomas J. Seifert sold 41,555 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $190.64, for a total value of $7,922,045.20. Following the transaction, the chief financial officer owned 189,517 shares of the company’s stock, valued at approximately $36,129,520.88. This trade represents a 17.98% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction that occurred on Thursday, September 11th. The stock was sold at an average price of $226.46, for a total transaction of $11,862,880.64. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 638,060 shares of company stock worth $133,217,328. Company insiders own 10.89% of the company’s stock.

About Cloudflare

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.