Cloudflare, Inc. (NYSE:NET) Insider Sells $3,354,994.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at approximately $54,095,091.05. This represents a 5.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Michelle Zatlyn also recently made the following trade(s):

• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total transaction of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $114.89 on Friday. The stock has a market capitalization of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27. The firm’s 50-day moving average price is $137.47 and its two-hundred day moving average price is $111.31. 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 $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. On average, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP grew its holdings in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the fourth quarter worth about $43,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter worth approximately $54,000. Park Square Financial Group LLC bought a new stake in shares of Cloudflare during the fourth quarter valued at approximately $56,000. Finally, Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Mizuho dropped their price objective on Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Wells Fargo & Company raised their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Stifel Nicolaus upped their target price on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Finally, UBS Group decreased their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus price target of $135.64.

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.