Cloudflare, Inc. (NYSE:NET) COO Sells $8,464,901.60 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 102,580 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60. Following the transaction, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $17,444,232.88. The transaction 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 Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20.
• 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 value of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.54, for a total value of $994,062.80.
• 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 value 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 value 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 value of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total value of $2,299,651.60.

Cloudflare Stock Performance

Cloudflare stock opened at $84.53 on Friday. 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 company has a market capitalization of $28.72 billion, a P/E ratio of -159.49 and a beta of 1.10. The stock’s 50 day moving average is $76.71 and its 200 day moving average is $85.43. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, equities research analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of Cloudflare

Institutional investors have recently added to or reduced their stakes in the business. Riverview Trust Co purchased a new stake in Cloudflare during the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC boosted its stake in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. ICA Group Wealth Management LLC purchased a new stake in Cloudflare during the 4th quarter valued at $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare during the 4th quarter valued at $39,000. Finally, Pingora Partners LLC purchased a new stake in Cloudflare during the 4th quarter valued at $42,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price for the company in a report on Tuesday, May 7th. Bank of America upped their price target on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research report on Friday, May 3rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Cloudflare in a research report on Monday, June 17th. Citigroup lowered their price target on Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Finally, TD Cowen lowered their price target on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $90.96.

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.