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 firm’s stock in a transaction that occurred on Friday, October 18th. The shares were sold at an average price of $90.88, for a total value of $1,363,200.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at $25,573,904.64. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Stock Performance

NYSE NET traded down $0.06 on Monday, hitting $90.74. 1,477,213 shares of the stock were exchanged, compared to its average volume of 3,191,547. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The business’s fifty day moving average is $82.39 and its 200 day moving average is $80.82. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The company has a market capitalization of $30.83 billion, a PE ratio of -171.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the company earned ($0.12) earnings per share. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Research analysts anticipate that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Baillie Gifford & Co. increased its holdings in shares of Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Vanguard Group Inc. increased its holdings in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after purchasing an additional 584,566 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of Cloudflare by 1.2% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after purchasing an additional 19,446 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have issued reports on NET shares. Susquehanna boosted their price target on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. BNP Paribas assumed 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. Royal Bank of Canada raised their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Wolfe Research assumed coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Guggenheim raised their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $91.72.

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.