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 dated Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $22,050,739.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cloudflare Price Performance

NYSE NET opened at $82.45 on Friday. The company has a 50-day moving average price of $79.46 and a 200-day moving average price of $82.52. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The firm has a market capitalization of $28.02 billion, a P/E ratio of -155.57 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company earned ($0.12) earnings per share. Equities research analysts anticipate that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in Cloudflare during the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its position in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Quarry LP grew its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Cloudflare in the 2nd quarter worth approximately $29,000. Finally, Versant Capital Management Inc raised its stake in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the period. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NET has been the topic of several research reports. Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Scotiabank started coverage on Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price target on the stock. The Goldman Sachs Group decreased their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Guggenheim boosted their target price on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Finally, Robert W. Baird increased their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $92.29.

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.