Cloudflare, Inc. (NYSE:NET) COO Sells $2,889,115.20 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $19,489,020.12. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40.
• 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 Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.
• 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 value 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.

Cloudflare Price Performance

NYSE NET opened at $113.60 on Friday. The business’s fifty day moving average is $96.10 and its 200 day moving average is $85.03. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market capitalization of $38.99 billion, a PE ratio of -436.92 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NET. Wells Fargo & Company upped their target price on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday. UBS Group lifted their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Piper Sandler boosted their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, BNP Paribas assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $95.20.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently modified their holdings of NET. CVA Family Office LLC boosted its stake in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP lifted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the 3rd quarter worth approximately $38,000. Quest Partners LLC purchased a new stake in Cloudflare during the 3rd quarter valued at approximately $54,000. Finally, Blue Trust Inc. raised its position in shares of Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after buying an additional 752 shares during the last quarter. 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.