Cloudflare, Inc. (NYSE:NET) CFO Sells $1,109,550.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the transaction, the chief financial officer now owns 338,469 shares in the company, valued at $25,036,551.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cloudflare Trading Down 0.2 %

Shares of NET opened at $74.12 on Wednesday. The stock’s 50-day moving average is $92.69 and its two-hundred day moving average is $83.93. The stock has a market cap of $25.03 billion, a PE ratio of -139.85 and a beta of 1.15. Cloudflare, Inc. has a 12 month low of $44.60 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Equities analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a report on Friday, May 3rd. Bank of America boosted their price objective on shares of Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Oppenheimer cut their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. UBS Group cut their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating for the company in a research report on Friday, May 3rd. Finally, Truist Financial boosted their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $89.48.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of NET. Norges Bank acquired a new position in shares of Cloudflare in the 4th quarter valued at approximately $221,858,000. 1832 Asset Management L.P. raised its holdings in Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after acquiring an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. boosted its stake in Cloudflare by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Capital World Investors grew its holdings in Cloudflare by 1.8% during the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after acquiring an additional 487,308 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new stake in shares of Cloudflare in the 1st quarter worth about $37,740,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.