Cloudflare, Inc. (NYSE:NET) CFO Sells $2,049,450.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $34,549,491.47. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cloudflare Stock Up 2.9 %

NET stock traded up $4.00 during trading on Wednesday, reaching $144.14. The stock had a trading volume of 3,474,516 shares, compared to its average volume of 3,188,381. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $144.30. The company’s 50 day moving average is $115.82 and its two-hundred day moving average is $95.58. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $49.47 billion, a price-to-earnings ratio of -554.38 and a beta of 1.12.

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

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the company. Quarry LP raised its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in Cloudflare during the 2nd quarter valued at about $906,000. SG Americas Securities LLC grew its position in Cloudflare by 45.4% during the 3rd quarter. SG Americas Securities LLC now owns 25,940 shares of the company’s stock worth $2,098,000 after acquiring an additional 8,099 shares during the last quarter. Diversified Trust Co purchased a new position in Cloudflare in the 3rd quarter worth approximately $471,000. Finally, MBM Wealth Consultants LLC boosted its stake in shares of Cloudflare by 7.8% during the third quarter. MBM Wealth Consultants LLC now owns 16,533 shares of the company’s stock valued at $1,337,000 after purchasing an additional 1,202 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research report on Monday. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $145.00 in a research report on Friday, January 17th. BNP Paribas started coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Finally, Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $112.32.

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.