Cloudflare, Inc. (NYSE:NET) CFO Sells $1,707,150.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $28,779,020.89. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cloudflare Price Performance

NET stock traded down $0.73 during midday trading on Monday, reaching $114.00. The company had a trading volume of 2,422,628 shares, compared to its average volume of 3,185,075. The firm has a 50-day moving average price of $102.82 and a 200-day moving average price of $89.16. The company has a market capitalization of $39.12 billion, a P/E ratio of -438.46 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. On average, research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP increased its position 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 purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in shares of Cloudflare during the 3rd quarter worth $38,000. Quest Partners LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at $54,000. Finally, Versant Capital Management Inc lifted its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on NET shares. Scotiabank boosted their price objective on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $92.00 to $130.00 in a report on Monday, December 2nd. Wells Fargo & Company raised their price objective on shares of Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. BNP Paribas started coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price on the stock. Finally, Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $136.00 in a research note on Tuesday, December 17th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $101.37.

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.