Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $20,824,263.60. The trade was a 12.91 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $113.16, for a total value of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40.

Cloudflare Trading Up 1.0 %

Shares of NET stock traded up $1.26 during mid-day trading on Friday, reaching $125.19. The stock had a trading volume of 2,108,588 shares, compared to its average volume of 2,692,850. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock’s 50-day moving average price is $110.70 and its two-hundred day moving average price is $92.72. The firm has a market capitalization of $42.96 billion, a PE ratio of -481.49 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $125.71.

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

Wall Street Analysts Forecast Growth

NET has been the subject of several research analyst reports. Morgan Stanley lifted their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday. Mizuho boosted their price objective on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price objective for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and lifted their target price for the company from $77.00 to $140.00 in a research report on Thursday, January 2nd. Finally, Piper Sandler increased their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $108.32.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in NET. Atomi Financial Group Inc. lifted its holdings in Cloudflare by 3.3% in the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after buying an additional 94 shares during the period. Chicago Partners Investment Group LLC boosted its position in shares of Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock valued at $293,000 after purchasing an additional 105 shares in the last quarter. Wealth Management Partners LLC grew its stake in Cloudflare by 3.3% in the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after purchasing an additional 114 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Cloudflare by 13.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock valued at $80,000 after buying an additional 119 shares in the last quarter. Finally, Quarry LP boosted its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

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.