Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 35,118 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 35,118 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $18,212,582.70. This represents a 16.88 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total transaction of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.13, for a total value of $988,806.60.

Cloudflare Stock Performance

Shares of NET stock opened at $99.38 on Thursday. The stock’s 50-day moving average price is $89.15 and its 200 day moving average price is $81.98. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $34.11 billion, a PE ratio of -382.23 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Piper Sandler boosted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC restated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research note on Friday, August 2nd. Susquehanna upped their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Finally, Guggenheim increased their price objective on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.88.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently bought and sold shares of NET. Baillie Gifford & Co. increased its stake in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after acquiring an additional 2,575,396 shares during the period. Marshall Wace LLP lifted its position in Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new stake in Cloudflare in the 3rd quarter valued at approximately $25,588,000. American Century Companies Inc. increased its position in Cloudflare by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after purchasing an additional 277,228 shares during the period. Finally, Glynn Capital Management LLC purchased a new position in shares of Cloudflare during the 2nd quarter worth approximately $16,765,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.