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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cloudflare Price Performance

NYSE NET opened at $82.90 on Friday. The firm’s fifty day simple moving average is $79.46 and its two-hundred day simple moving average is $82.64. The firm has a market capitalization of $28.17 billion, a P/E ratio of -156.42 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. Analysts forecast that Cloudflare, Inc. will post -0.12 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have recently weighed in on NET. Royal Bank of Canada lifted their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wolfe Research began coverage on shares of Cloudflare in a research report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Scotiabank began coverage on shares of Cloudflare in a research note on Monday, July 8th. They issued a “sector perform” rating and a $85.00 target price on the stock. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price target on shares of Cloudflare in a research note on Monday, June 17th. Finally, Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve 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 a consensus rating of “Hold” and a consensus price target of $92.29.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in NET. Riverview Trust Co acquired a new position in Cloudflare in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its stake in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Quarry LP increased its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the second quarter valued at $29,000. Finally, Versant Capital Management Inc boosted its holdings in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other 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.