Cloudflare, Inc. (NYSE:NET) Insider Sells $5,785,719.16 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 35,099 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

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

• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.
• 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 transaction of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $112.68, for a total transaction of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40.

Cloudflare Stock Down 2.9 %

Shares of NET opened at $151.83 on Monday. The firm has a market cap of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company’s 50-day moving average price is $130.11 and its 200 day moving average price is $103.46. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Truist Financial lifted their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Oppenheimer lowered shares of Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Susquehanna lifted their price target on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, Piper Sandler lifted their price target on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $136.28.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital World Investors boosted its holdings in Cloudflare by 0.7% in the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after purchasing an additional 260,415 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Cloudflare by 1.4% during the fourth quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock worth $526,986,000 after acquiring an additional 68,661 shares during the last quarter. Groupama Asset Managment purchased a new position in shares of Cloudflare during the fourth quarter worth approximately $269,200,000. Norges Bank purchased a new position in shares of Cloudflare during the fourth quarter worth approximately $249,544,000. Finally, American Century Companies Inc. grew its position in shares of Cloudflare by 82.0% during the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.