Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares

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

Cloudflare Price Performance

Shares of Cloudflare stock opened at $72.45 on Thursday. Cloudflare, Inc. has a 52 week low of $45.47 and a 52 week high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The stock has a market cap of $24.46 billion, a PE ratio of -136.70 and a beta of 1.15. The company’s 50-day moving average price is $92.19 and its two-hundred day moving average price is $83.85.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently modified their holdings of NET. Riverview Trust Co acquired a new stake in shares of Cloudflare during the first quarter worth $27,000. Allspring Global Investments Holdings LLC raised its holdings in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the period. ICA Group Wealth Management LLC purchased a new stake in Cloudflare during the fourth quarter valued at about $38,000. GAMMA Investing LLC acquired a new position in shares of Cloudflare in the fourth quarter worth about $39,000. Finally, Pingora Partners LLC purchased a new position in shares of Cloudflare in the fourth quarter worth approximately $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent research reports. The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $89.00 to $77.00 and set a “sell” rating for the company in a research report on Monday. Cantor Fitzgerald cut their price target on Cloudflare from $100.00 to $80.00 and set a “neutral” rating on the stock in a report on Friday, May 3rd. Truist Financial boosted their price objective on Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 9th. JMP Securities increased their target price on Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research report on Wednesday, January 31st. Finally, Oppenheimer reduced their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $89.48.

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.