Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 12,820 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $77.54, for a total transaction of $994,062.80. Following the completion of the sale, the chief operating officer now directly owns 211,394 shares in the company, valued at approximately $16,391,490.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.51, for a total transaction of $1,006,498.20.
• On Wednesday, May 22nd, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $74.08, for a total transaction of $949,705.60.
• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The stock was sold at an average price of $74.94, for a total transaction of $4,561,073.22.
• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The stock was sold at an average price of $87.07, for a total transaction of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $89.69, for a total transaction of $2,299,651.60.

Cloudflare Stock Up 0.8 %

NET stock opened at $78.60 on Tuesday. The stock has a market capitalization of $26.71 billion, a P/E ratio of -148.30 and a beta of 1.08. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The firm has a 50-day moving average price of $77.40 and a 200-day moving average price of $85.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on NET shares. Robert W. Baird dropped their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Susquehanna decreased their price objective on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a report on Monday, May 6th. Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 price objective on shares of Cloudflare in a report on Monday, June 17th. Piper Sandler reiterated a “neutral” rating and issued a $81.00 price objective (down from $110.00) on shares of Cloudflare in a report on Friday, May 3rd. Finally, UBS Group decreased their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a report on Friday, May 3rd. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $90.70.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of Cloudflare by 20.2% in the first quarter. DekaBank Deutsche Girozentrale now owns 54,576 shares of the company’s stock worth $5,296,000 after acquiring an additional 9,159 shares during the last quarter. Soltis Investment Advisors LLC raised its holdings in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after buying an additional 168 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its holdings in Cloudflare by 8.1% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 169,481 shares of the company’s stock valued at $16,411,000 after buying an additional 12,700 shares during the last quarter. Cetera Advisors LLC raised its holdings in Cloudflare by 298.4% in the 1st quarter. Cetera Advisors LLC now owns 39,200 shares of the company’s stock valued at $3,796,000 after buying an additional 29,360 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Cloudflare by 93.8% in the 1st quarter. Cetera Investment Advisers now owns 86,487 shares of the company’s stock valued at $8,374,000 after buying an additional 41,871 shares during the last quarter. Institutional investors 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.