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 business’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now owns 252,869 shares in the company, valued at $28,503,393.68. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cloudflare Stock Up 3.8 %

Shares of NET opened at $112.69 on Friday. The firm has a market cap of $38.67 billion, a PE ratio of -433.42 and a beta of 1.10. 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 company’s fifty day moving average is $98.69 and its two-hundred day moving average is $86.41. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $119.42.

Cloudflare (NYSE:NET) last posted its quarterly 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). The firm 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%. Analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Mizuho boosted their price target on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. UBS Group raised their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and boosted their target price for the stock from $95.00 to $136.00 in a research report on Tuesday. Finally, Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $97.81.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. CVA Family Office LLC increased its position 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 in the last quarter. Quarry LP increased its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in Cloudflare in the third quarter valued at about $38,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter worth about $54,000. Finally, Blue Trust Inc. grew its stake in shares of Cloudflare by 37,600.0% in 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 in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.