Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 31,136 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 31,136 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $30,369,566.90. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cloudflare Stock Performance

Shares of NET opened at $119.81 on Wednesday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $108.20 and a 200-day moving average price of $91.77. The company has a market cap of $41.12 billion, a PE ratio of -460.81 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $121.02.

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

Institutional Investors Weigh In On Cloudflare

Large investors have recently added to or reduced their stakes in the company. CVA Family Office LLC increased its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP boosted its stake in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter valued at approximately $38,000. Quest Partners LLC purchased a new position in shares of Cloudflare during the third quarter worth approximately $54,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Royal Bank of Canada increased their price objective on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Mizuho upped their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. BNP Paribas began coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Wells Fargo & Company boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus price target of $108.32.

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.