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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total value of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,503,393.68. This trade represents a 5.60 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Cloudflare Stock Down 0.5 %

Shares of NYSE NET opened at $108.58 on Friday. The business has a 50-day moving average of $98.31 and a two-hundred day moving average of $86.10. The company has a market capitalization of $37.26 billion, a price-to-earnings ratio of -417.62 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

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

Analysts Set New Price Targets

Several brokerages have weighed in on NET. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their target price for the stock from $95.00 to $136.00 in a research note on Tuesday. Mizuho boosted their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Morgan Stanley upgraded Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus price target of $97.81.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hartline Investment Corp raised its position in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare in the third quarter valued at $25,588,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares during the last quarter. National Pension Service boosted its stake in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after buying an additional 4,062 shares during the period. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cloudflare during the second quarter worth about $7,319,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.