Thomas J. Seifert Sells 28,635 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $24,030,141.07. This trade represents a 10.17 % 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 8.0 %

Shares of Cloudflare stock opened at $104.18 on Friday. The company’s 50 day moving average is $87.19 and its 200 day moving average is $81.07. The company has a market cap of $35.75 billion, a price-to-earnings ratio of -400.69 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. Research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC lifted its stake in shares of 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 buying an additional 238 shares in the last quarter. CVA Family Office LLC raised its holdings in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP lifted its position in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Cloudflare in the second quarter worth about $29,000. Finally, Versant Capital Management Inc boosted its holdings in shares of Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NET shares. Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Guggenheim raised their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. UBS Group upped their price target on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Wells Fargo & Company boosted their target price on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Finally, Scotiabank increased their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $92.88.

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.