Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 20,000 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 20,000 shares of the company’s stock in a transaction on Tuesday, October 12th. The shares were sold at an average price of $148.42, for a total value of $2,968,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Cloudflare stock traded up $8.49 during trading hours on Wednesday, reaching $159.43. The stock had a trading volume of 5,743,932 shares, compared to its average volume of 3,872,426. The firm has a 50 day simple moving average of $126.52 and a two-hundred day simple moving average of $102.61. The firm has a market capitalization of $49.81 billion, a price-to-earnings ratio of -354.28 and a beta of 0.03. The company has a current ratio of 5.72, a quick ratio of 5.72 and a debt-to-equity ratio of 0.50. Cloudflare, Inc. has a 1 year low of $50.54 and a 1 year high of $159.47.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, August 5th. The company reported ($0.08) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.04. The company had revenue of $152.43 million for the quarter, compared to the consensus estimate of $146.22 million. Cloudflare had a negative return on equity of 12.61% and a negative net margin of 25.63%. Sell-side analysts forecast that Cloudflare, Inc. will post -0.46 EPS for the current year.

A number of research firms recently commented on NET. Piper Sandler lowered Cloudflare from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $125.00 to $141.00 in a research note on Monday. JMP Securities increased their price objective on Cloudflare from $102.00 to $129.00 and gave the company a “market outperform” rating in a research note on Monday, August 9th. Mizuho increased their price objective on Cloudflare from $96.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Needham & Company LLC assumed coverage on Cloudflare in a research note on Wednesday, September 29th. They issued a “buy” rating and a $140.00 price target on the stock. Finally, Robert W. Baird lowered Cloudflare from an “outperform” rating to a “neutral” rating and raised their price target for the stock from $95.00 to $117.00 in a research note on Friday, August 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $116.97.

Several large investors have recently made changes to their positions in the stock. Koshinski Asset Management Inc. purchased a new stake in shares of Cloudflare during the 3rd quarter valued at about $130,000. EWG Elevate Inc. purchased a new stake in shares of Cloudflare during the 3rd quarter valued at about $663,000. Tsfg LLC raised its holdings in shares of Cloudflare by 4.9% during the 3rd quarter. Tsfg LLC now owns 1,560 shares of the company’s stock valued at $176,000 after buying an additional 73 shares during the period. Pensionfund DSM Netherlands purchased a new stake in shares of Cloudflare during the 3rd quarter valued at about $451,000. Finally, Johnson Midwest Financial LLC purchased a new stake in shares of Cloudflare during the 3rd quarter valued at about $356,000. Institutional investors and hedge funds own 66.94% of the company’s stock.

About Cloudflare

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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