Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO 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 Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares in the company, valued at approximately $29,453,572.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cloudflare Stock Down 3.0 %

NET traded down $2.61 during midday trading on Friday, reaching $84.10. 4,159,999 shares of the company were exchanged, compared to its average volume of 3,821,212. The company has a market cap of $28.40 billion, a price-to-earnings ratio of -152.91 and a beta of 1.12. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company’s fifty day moving average price is $96.86 and its 200 day moving average price is $81.63. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The business had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. As a group, analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Institutional Trading of Cloudflare

A number of institutional investors have recently modified their holdings of NET. Moneta Group Investment Advisors LLC boosted its holdings in shares of Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after purchasing an additional 6,068,873 shares during the period. Norges Bank purchased a new stake in Cloudflare in the fourth quarter worth about $124,592,000. 1832 Asset Management L.P. lifted its holdings in Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after buying an additional 1,597,900 shares during the period. Two Sigma Investments LP lifted its holdings in Cloudflare by 215.1% in the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock worth $82,927,000 after buying an additional 918,096 shares during the period. Finally, Vanguard Group Inc. lifted its holdings in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Wells Fargo & Company lifted their target price on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. boosted their price target on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a report on Friday, February 9th. Morgan Stanley boosted their price target on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a report on Monday, February 12th. DZ Bank lowered Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective on the stock. in a research note on Tuesday, February 13th. Finally, Susquehanna lifted their price objective on Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $87.08.

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.