Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $84.97, for a total value of $1,274,550.00. Following the completion of the transaction, the chief financial officer now owns 309,937 shares in the company, valued at $26,335,346.89. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cloudflare Stock Down 0.6 %

NET opened at $84.55 on Thursday. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm has a 50-day simple moving average of $76.76 and a two-hundred day simple moving average of $85.44. The company has a market capitalization of $28.73 billion, a PE ratio of -159.53 and a beta of 1.10.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. JMP Securities restated a “market outperform” rating and set a $120.00 price target on shares of Cloudflare in a research note on Tuesday, May 14th. Guggenheim restated a “sell” rating and set a $50.00 target price on shares of Cloudflare in a research report on Tuesday, June 25th. Susquehanna decreased their price target on shares of Cloudflare from $115.00 to $80.00 and set a “neutral” rating on the stock in a research report on Monday, May 6th. Citigroup cut their price objective on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, Bank of America raised their target price on Cloudflare from $52.00 to $60.00 and gave the stock an “underperform” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $90.96.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Cloudflare by 6.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock worth $5,808,000 after purchasing an additional 4,300 shares during the period. Truist Financial Corp boosted its stake in Cloudflare by 1.2% during the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock worth $2,364,000 after buying an additional 331 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in Cloudflare by 5.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock worth $5,478,000 after buying an additional 3,164 shares during the period. Deutsche Bank AG increased its position in Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after acquiring an additional 65,596 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at $11,639,000. 82.68% of the stock is 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.