Michelle Zatlyn Sells 25,641 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $182.80, for a total value of $4,687,174.80. Following the completion of the sale, the insider directly owned 6,390 shares in the company, valued at $1,168,092. This represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, July 17th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.68, for a total transaction of $4,889,225.88.
• On Thursday, June 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $171.41, for a total transaction of $4,395,123.81.
• On Wednesday, June 4th, Michelle Zatlyn sold 25,642 shares of Cloudflare stock. The shares were sold at an average price of $173.00, for a total transaction of $4,436,066.00.
• On Wednesday, May 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.72, for a total transaction of $4,018,300.80.
• On Tuesday, May 20th, Michelle Zatlyn sold 35,098 shares of Cloudflare stock. The shares were sold at an average price of $156.83, for a total value of $5,504,419.34.

Cloudflare Price Performance

NYSE NET opened at $196.77 on Friday. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a market capitalization of $68.20 billion, a price-to-earnings ratio of -855.52 and a beta of 1.85. The company has a 50 day simple moving average of $175.86 and a 200-day simple moving average of $143.22. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $198.01.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The firm had revenue of $479.09 million during the quarter, compared to analysts’ expectations of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The business’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently bought and sold shares of NET. ORG Partners LLC lifted its stake in shares of Cloudflare by 11.9% in the second quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after buying an additional 53 shares during the last quarter. CreativeOne Wealth LLC boosted its position in shares of Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after acquiring an additional 58 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Cloudflare by 6.2% during the 1st quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company’s stock worth $152,000 after purchasing an additional 77 shares during the period. Gill Capital Partners LLC lifted its position in shares of Cloudflare by 2.9% in the 1st quarter. Gill Capital Partners LLC now owns 2,761 shares of the company’s stock worth $311,000 after acquiring an additional 79 shares during the period. Finally, Spire Wealth Management lifted its position in Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company’s stock worth $108,000 after purchasing an additional 95 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on NET. Oppenheimer reissued an “outperform” rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. CICC Research raised Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price target for the company in a research note on Monday, May 12th. Morgan Stanley reissued an “overweight” rating and set a $225.00 price target (up from $150.00) on shares of Cloudflare in a report on Friday, July 11th. Capital One Financial raised shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Finally, KeyCorp initiated coverage on shares of Cloudflare in a research report on Friday, June 6th. They issued an “overweight” rating and a $210.00 target price for the company. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $152.32.

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.