Cloudflare, Inc. (NYSE:NET) CFO Sells $1,301,850.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $24,422,966.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Cloudflare Stock Up 5.4 %

Shares of NYSE:NET opened at $92.49 on Thursday. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The stock has a fifty day simple moving average of $84.30 and a two-hundred day simple moving average of $80.59. Cloudflare, Inc. has a 12-month low of $61.34 and a 12-month high of $116.00. The stock has a market capitalization of $31.60 billion, a price-to-earnings ratio of -318.93 and a beta of 1.10.

Analyst Upgrades and Downgrades

NET has been the subject of several recent research reports. Royal Bank of Canada boosted their price objective on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Mizuho increased their price target on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Cantor Fitzgerald upped their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Guggenheim boosted their price target on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $91.72.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. Susquehanna Fundamental Investments LLC bought a new stake in Cloudflare during the 2nd quarter valued at about $7,319,000. Price T Rowe Associates Inc. MD increased its position in shares of Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after acquiring an additional 149,866 shares in the last quarter. Swiss National Bank raised its holdings in Cloudflare by 2.0% in the 1st quarter. Swiss National Bank now owns 886,900 shares of the company’s stock worth $85,879,000 after acquiring an additional 17,700 shares during the last quarter. Comerica Bank lifted its position in Cloudflare by 19.9% in the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after acquiring an additional 4,733 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky boosted its stake in Cloudflare by 13.5% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock valued at $15,935,000 after purchasing an additional 22,900 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.