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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Cloudflare Stock Up 17.9 %

NET stock opened at $166.88 on Friday. The stock has a market capitalization of $57.27 billion, a P/E ratio of -641.83 and a beta of 1.12. The business has a 50-day moving average of $117.55 and a 200-day moving average of $96.24. 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, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $171.38.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research reports. Royal Bank of Canada upped their target price on shares of Cloudflare from $123.00 to $170.00 and gave the company an “outperform” rating in a research report on Friday. UBS Group lifted their target price on shares of Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday. The Goldman Sachs Group lifted their price objective on Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and increased their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $128.48.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. CVA Family Office LLC grew its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter valued at $38,000. Quest Partners LLC bought a new stake in Cloudflare during the third quarter worth $54,000. Finally, Larson Financial Group LLC lifted its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. 82.68% of the stock is owned by 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.