Thomas J. Seifert Sells 28,635 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total value of $4,640,874.45. Following the transaction, the chief financial officer now owns 293,582 shares of the company’s stock, valued at $47,580,834.74. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $156.52 on Friday. The firm has a market cap of $53.72 billion, a P/E ratio of -711.47 and a beta of 1.12. 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, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The stock’s fifty day moving average price is $129.34 and its 200-day moving average price is $102.57.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) 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, equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new position in shares of Cloudflare during the third quarter valued at $38,000. Quarry LP increased its stake in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Cloudflare during the fourth quarter valued at $43,000. Quest Partners LLC purchased a new position in Cloudflare in the third quarter valued at about $54,000. Finally, Larson Financial Group LLC grew its stake in Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of a number of research reports. UBS Group increased their target price on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Robert W. Baird reiterated a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Susquehanna increased their target price on Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research report on Monday, February 10th. JMP Securities raised their price target on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a research report on Friday, February 7th. Finally, Scotiabank raised their price target on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $136.28.

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.