Cloudflare, Inc. (NYSE:NET) CAO Janel Riley Sells 4,327 Shares

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the transaction, the chief accounting officer now owns 74,698 shares in the company, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Cloudflare Stock Performance

NYSE:NET opened at $156.52 on Friday. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. 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 company has a 50-day moving average of $129.34 and a 200-day moving average of $102.57. The firm has a market cap of $53.72 billion, a price-to-earnings ratio of -711.47 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Morgan Stanley raised their price target on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Susquehanna raised their price target on shares of Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Mizuho raised their price target on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Piper Sandler increased their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $185.00 price objective on shares of Cloudflare in a report on Tuesday. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $136.28.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently made changes to their positions in NET. Creative Planning boosted its position in shares of Cloudflare by 17.8% during the 3rd quarter. Creative Planning now owns 31,519 shares of the company’s stock valued at $2,550,000 after purchasing an additional 4,756 shares in the last quarter. Bleakley Financial Group LLC boosted its holdings in shares of Cloudflare by 9.5% in the third quarter. Bleakley Financial Group LLC now owns 3,620 shares of the company’s stock worth $293,000 after buying an additional 313 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Cloudflare by 17.8% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 27,942 shares of the company’s stock worth $2,260,000 after acquiring an additional 4,230 shares in the last quarter. Blue Trust Inc. increased its position in shares of Cloudflare by 224.5% in the third quarter. Blue Trust Inc. now owns 2,447 shares of the company’s stock worth $203,000 after acquiring an additional 1,693 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

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.