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

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company's stock, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cloudflare Stock Down 0.6 %

NET stock traded down $0.73 during trading on Monday, reaching $114.00. 2,422,628 shares of the stock were exchanged, compared to its average volume of 3,185,075. The firm's 50 day moving average is $102.82 and its 200 day moving average is $89.16. The firm has a market cap of $39.12 billion, a P/E ratio of -438.46 and a beta of 1.10. 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 twelve month low of $66.24 and a twelve month high of $119.42.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts' consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, research analysts forecast that Cloudflare, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NET. Wells Fargo & Company upped their target price on Cloudflare from $105.00 to $110.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on Cloudflare from $100.00 to $125.00 and gave the stock a "hold" rating in a report on Thursday, December 19th. Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the company a "sector perform" rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a "neutral" rating in a report on Friday, November 8th. Finally, Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a "neutral" rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $101.37.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Market Strategies LLC acquired a new position in Cloudflare during the 4th quarter valued at about $647,000. Nordea Investment Management AB boosted its position in shares of Cloudflare by 0.7% during the fourth quarter. Nordea Investment Management AB now owns 39,776 shares of the company's stock valued at $4,307,000 after buying an additional 261 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Cloudflare during the fourth quarter worth $803,000. GAMMA Investing LLC raised its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company's stock valued at $63,000 after buying an additional 217 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company's stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.