Cloudflare, Inc. (NYSE:NET) CFO Sells $1,200,000.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $35,229,840. This represents a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Stock Up 0.9 %

NET stock traded up $1.01 during midday trading on Friday, hitting $118.95. 4,286,078 shares of the company’s stock were exchanged, compared to its average volume of 3,020,484. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. 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 firm has a 50 day moving average price of $136.61 and a 200-day moving average price of $109.54. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NET. JPMorgan Chase & Co. increased their price target on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 7th. The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Piper Sandler lowered their price target on Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Cantor Fitzgerald increased their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Finally, Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $131.64.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. Groupama Asset Managment acquired a new stake in Cloudflare during the fourth quarter valued at approximately $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $249,544,000. American Century Companies Inc. raised its position in shares of Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Fred Alger Management LLC lifted its stake in Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after purchasing an additional 836,591 shares during the last quarter. Finally, Invesco Ltd. lifted its stake in Cloudflare by 292.5% during the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock worth $116,178,000 after purchasing an additional 804,059 shares during 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.