Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $90.88, for a total value of $1,363,200.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $25,573,904.64. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cloudflare Stock Performance

Shares of NYSE:NET traded down $0.04 during trading hours on Monday, hitting $90.76. The stock had a trading volume of 1,479,070 shares, compared to its average volume of 3,191,548. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The firm has a market capitalization of $30.84 billion, a price-to-earnings ratio of -171.25 and a beta of 1.10. The stock's fifty day simple moving average is $82.67 and its 200 day simple moving average is $80.80. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. During the same quarter in the previous year, the business posted ($0.12) earnings per share. The firm's quarterly revenue was up 30.0% compared to the same quarter last year. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of NET. Susquehanna Fundamental Investments LLC bought a new stake in Cloudflare in the second quarter valued at about $7,319,000. Price T Rowe Associates Inc. MD raised its holdings in Cloudflare by 20.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company's stock worth $84,745,000 after purchasing an additional 149,866 shares during the period. Swiss National Bank raised its holdings in Cloudflare by 2.0% in the first quarter. Swiss National Bank now owns 886,900 shares of the company's stock worth $85,879,000 after purchasing an additional 17,700 shares during the period. Comerica Bank raised its holdings in Cloudflare by 19.9% in the first quarter. Comerica Bank now owns 28,556 shares of the company's stock worth $2,765,000 after purchasing an additional 4,733 shares during the period. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in Cloudflare by 13.5% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company's stock worth $15,935,000 after purchasing an additional 22,900 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on NET shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Cloudflare in a research note on Friday, August 2nd. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They set a "sector perform" rating and a $85.00 price objective for the company. Piper Sandler upped their target price on Cloudflare from $82.00 to $83.00 and gave the stock a "neutral" rating in a report on Friday, August 2nd. UBS Group upgraded Cloudflare from a "sell" rating to a "neutral" rating and upped their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Finally, BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an "underperform" rating and a $65.00 price target for the company. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, Cloudflare has a consensus rating of "Hold" and an average price target of $91.72.

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.