Cloudflare, Inc. (NYSE:NET) CFO Sells $4,640,874.45 in Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 28,635 shares of the business's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the completion of the transaction, the chief financial officer now directly owns 293,582 shares in the company, valued at $47,580,834.74. This represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cloudflare Trading Down 2.9 %

Shares of NYSE:NET traded down $4.55 during trading on Friday, reaching $151.83. The stock had a trading volume of 3,652,849 shares, compared to its average volume of 3,999,010. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The business has a fifty day moving average price of $130.11 and a 200-day moving average price of $103.08. The stock has a market cap of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results 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%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd acquired a new position in shares of Cloudflare during the 4th quarter valued at about $43,000. Capital Performance Advisors LLP acquired a new position in Cloudflare during the third quarter worth approximately $38,000. Quarry LP increased its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company's stock worth $39,000 after purchasing an additional 133 shares during the last quarter. Larson Financial Group LLC raised its stake in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company's stock worth $58,000 after purchasing an additional 517 shares during the period. Finally, Versant Capital Management Inc boosted 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 valued at $59,000 after purchasing an additional 170 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NET. JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a research report on Thursday, December 19th. Scotiabank boosted their target price on shares of Cloudflare from $87.00 to $110.00 and gave the stock a "sector perform" rating in a research report on Tuesday, January 21st. Piper Sandler upped their price target on shares of Cloudflare from $92.00 to $153.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Finally, Baird R W downgraded shares of Cloudflare from a "strong-buy" rating to a "hold" rating in a report on Monday, February 3rd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $136.28.

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.