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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $54,095,091.05. This trade represents a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $117.34, for a total value of $3,008,597.60.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16.
• 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 Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00.

Cloudflare Price Performance

Shares of NET traded down $2.53 during midday trading on Thursday, reaching $118.62. The stock had a trading volume of 2,272,713 shares, compared to its average volume of 3,037,333. The company has a market capitalization of $40.93 billion, a price-to-earnings ratio of -539.17 and a beta of 1.27. The company’s 50-day moving average is $137.52 and its 200 day moving average is $111.05. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Cloudflare

A number of institutional investors have recently made changes to their positions in the stock. Avant Financial Advisors LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $258,000. Wellington Management Group LLP grew its stake in Cloudflare by 47.0% in the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock worth $639,000 after purchasing an additional 1,896 shares during the period. Thoma Capital Management LLC purchased a new stake in shares of Cloudflare in the 4th quarter worth about $720,000. Wealth Enhancement Advisory Services LLC grew its holdings in Cloudflare by 22.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company’s stock worth $3,301,000 after purchasing an additional 5,638 shares during the period. Finally, Lansforsakringar Fondforvaltning AB publ bought a new position in Cloudflare during the 4th quarter valued at approximately $10,499,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on NET. Royal Bank of Canada decreased their price target on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research note on Thursday, March 13th. Oppenheimer started coverage on shares of Cloudflare in a research report on Thursday, March 20th. They set an “outperform” rating and a $150.00 price objective for the company. Needham & Company LLC cut their price objective on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, March 13th. The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, March 14th. Finally, Truist Financial boosted their price objective on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $135.64.

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.