Cloudflare, Inc. (NYSE:NET) Insider Michelle Zatlyn Sells 25,640 Shares

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,640 shares of the company's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60. Following the sale, the insider now owns 413,413 shares in the company, valued at approximately $48,509,881.42. This trade represents a 5.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was 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 shares were 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 value of $3,087,056.00.

Cloudflare Price Performance

NYSE:NET traded down $5.34 during trading hours on Monday, reaching $109.59. 463,194 shares of the company traded hands, compared to its average volume of 3,071,800. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The stock has a market cap of $37.82 billion, a P/E ratio of -498.47 and a beta of 1.27. The firm's 50-day moving average is $137.47 and its 200-day moving average is $111.56. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

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Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data 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%. Equities research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the topic of a number of recent analyst reports. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the company a "hold" rating in a report on Thursday, December 19th. Mizuho reduced their price objective on shares of Cloudflare from $160.00 to $140.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Cantor Fitzgerald increased their target price on shares of Cloudflare from $111.00 to $149.00 and gave the company a "neutral" rating in a research report on Friday, February 7th. Wells Fargo & Company boosted their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, January 27th. Finally, Royal Bank of Canada dropped their price objective on Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $135.64.

Hedge Funds Weigh In On Cloudflare

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