Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells $3,172,950.00 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $21,403,676.25. This trade represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Michelle Zatlyn also recently made the following trade(s):

• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.

Cloudflare Stock Up 1.0 %

Shares of NYSE NET opened at $125.19 on Monday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market cap of $42.96 billion, a P/E ratio of -481.49 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $125.71. The firm has a 50-day simple moving average of $110.70 and a two-hundred day simple moving average of $92.86.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NET. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research note on Thursday, December 19th. Piper Sandler increased their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Scotiabank increased their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price objective for the company from $95.00 to $136.00 in a report on Tuesday, December 17th. Finally, BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $108.32.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the stock. Hartline Investment Corp increased its position in shares of Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after acquiring an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the third quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. increased its position in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service increased its position in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cloudflare during the second quarter worth approximately $7,319,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.