Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The shares were sold at an average price of $85.28, for a total transaction of $2,186,579.20. Following the sale, the chief operating officer now owns 211,394 shares of the company’s stock, valued at $18,027,680.32. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were 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 shares were 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 shares were 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 shares were sold at an average price of $89.69, for a total transaction of $2,299,651.60.

Cloudflare Stock Down 0.6 %

Shares of NET opened at $84.53 on Friday. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $28.72 billion, a PE ratio of -159.49 and a beta of 1.10. The business’s 50 day moving average is $76.71 and its 200 day moving average is $85.43.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $372.93 million. Research analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of research analyst reports. Piper Sandler reaffirmed a “neutral” rating and issued a $81.00 target price (down previously from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a report on Tuesday, May 7th. Mizuho cut their price target on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. KeyCorp lowered their price objective on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a research note on Friday, May 3rd. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $80.00 target price on shares of Cloudflare in a research report on Friday, June 21st. 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 data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $90.96.

Institutional Trading of Cloudflare

Several hedge funds have recently bought and sold shares of NET. Vanguard Group Inc. lifted its position in shares of Cloudflare by 1.5% in the first quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after buying an additional 412,864 shares in the last quarter. Capital World Investors raised its holdings in shares of Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after acquiring an additional 584,566 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Cloudflare by 121.2% during the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after acquiring an additional 1,597,900 shares during the last quarter. Norges Bank purchased a new position in shares of Cloudflare in the fourth quarter valued at $221,858,000. Finally, Deutsche Bank AG increased its position in Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after purchasing an additional 65,596 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.