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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cloudflare Stock Down 0.6 %

NET opened at $114.00 on Tuesday. The business has a 50 day moving average of $103.34 and a 200-day moving average of $89.48. The stock has a market capitalization of $39.12 billion, a price-to-earnings ratio of -438.46 and a beta of 1.10. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $119.42.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NET shares. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and upped their target price for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Scotiabank upped their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Piper Sandler lifted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. UBS Group upped their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Finally, Mizuho lifted their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $101.37.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. Allspring Global Investments Holdings LLC grew its holdings in shares of Cloudflare by 212.2% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 868 shares of the company’s stock worth $72,000 after purchasing an additional 590 shares in the last quarter. Commonwealth Equity Services LLC increased its holdings in Cloudflare by 18.7% in the 2nd quarter. Commonwealth Equity Services LLC now owns 55,105 shares of the company’s stock valued at $4,564,000 after buying an additional 8,678 shares during the period. CIBC Asset Management Inc raised its stake in shares of Cloudflare by 9.2% in the 2nd quarter. CIBC Asset Management Inc now owns 10,084 shares of the company’s stock valued at $835,000 after buying an additional 847 shares in the last quarter. TD Asset Management Inc lifted its holdings in shares of Cloudflare by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 69,996 shares of the company’s stock worth $5,798,000 after acquiring an additional 939 shares during the period. Finally, National Bank of Canada FI boosted its position in shares of Cloudflare by 10.0% during the 2nd quarter. National Bank of Canada FI now owns 7,031 shares of the company’s stock valued at $590,000 after acquiring an additional 640 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.