Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $21,403,676.25. This represents a 12.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total transaction 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 value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.

Cloudflare Stock Up 1.0 %

Cloudflare stock opened at $125.19 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $125.71. The firm’s 50-day simple moving average is $110.70 and its 200 day simple moving average is $92.79. The stock has a market cap of $42.96 billion, a PE ratio of -481.49 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Institutional Trading of Cloudflare

A number of large investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its holdings in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. Swiss National Bank increased its holdings in Cloudflare by 1.1% in the 3rd quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after acquiring an additional 10,100 shares during the last quarter. National Pension Service lifted its holdings in Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc boosted its position in Cloudflare by 16.8% during the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 395,303 shares of the company’s stock worth $42,602,000 after purchasing an additional 56,906 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NET. Piper Sandler raised 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. The Goldman Sachs Group upgraded shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their target price for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Mizuho boosted their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Finally, Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average price target of $108.32.

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.