Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,200,000.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This trade represents a 3.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Cloudflare Price Performance

Shares of NYSE NET opened at $118.95 on Monday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The stock has a market cap of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm’s 50-day simple moving average is $136.73 and its 200 day simple moving average is $110.24.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Quarry LP increased its stake in Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare during the 4th quarter worth approximately $43,000. Quest Partners LLC purchased a new stake in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Park Square Financial Group LLC purchased a new stake in shares of Cloudflare during the 4th quarter worth approximately $56,000. Finally, Larson Financial Group LLC increased its stake in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the subject of several recent research reports. Morgan Stanley started coverage on Cloudflare in a research note on Tuesday, March 18th. They issued an “overweight” rating for the company. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. UBS Group cut their target price on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Scotiabank upped their target price on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada cut their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $131.64.

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.