Cloudflare, Inc. (NYSE:NET) CFO Sells $2,049,450.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Stock Performance

Shares of NYSE NET opened at $166.88 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $171.38. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The business has a fifty day simple moving average of $117.55 and a 200 day simple moving average of $96.24. The firm has a market capitalization of $57.27 billion, a price-to-earnings ratio of -641.83 and a beta of 1.12.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Sell-side analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on NET shares. Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Morgan Stanley increased their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Mizuho upped their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Guggenheim lifted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $128.48.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare in the third quarter valued at about $25,588,000. International Assets Investment Management LLC bought a new position in shares of Cloudflare in the third quarter valued at approximately $147,160,000. Parnassus Investments LLC boosted its holdings in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC increased its holdings in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares in the last quarter. Finally, Generate Investment Management Ltd bought a new position in Cloudflare in the 4th quarter valued at $12,946,000. 82.68% of the stock is currently owned by institutional investors.

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.