Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 33,864 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 33,864 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $30,192,558.60. The trade was a 11.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Cloudflare Trading Up 2.3 %

Shares of NET stock opened at $119.81 on Wednesday. The company has a market capitalization of $41.12 billion, a price-to-earnings ratio of -460.81 and a beta of 1.10. 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 firm has a 50-day moving average price of $108.20 and a 200 day moving average price of $91.77. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $121.02.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and lifted their price objective for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Cantor Fitzgerald started coverage on Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. Finally, Mizuho lifted their price target on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Cloudflare has a consensus rating of “Hold” and an average target price of $108.32.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently made changes to their positions in NET. Marshall Wace LLP lifted its position in Cloudflare by 123.4% during the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the period. WIM INVESTMENT MANAGEMENT Ltd purchased a new position in shares of Cloudflare during the 3rd quarter worth about $25,588,000. International Assets Investment Management LLC acquired a new stake in shares of Cloudflare in the third quarter worth approximately $147,160,000. Parnassus Investments LLC grew its holdings in Cloudflare by 1,851.9% in the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock valued at $11,196,000 after purchasing an additional 131,319 shares during the period. Finally, Geode Capital Management LLC increased its position in Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Institutional investors and hedge funds 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.