Cloudflare, Inc. (NYSE:NET) COO Sells $2,186,579.20 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Wednesday, July 3rd. The stock was sold at an average price of $85.28, for a total transaction of $2,186,579.20. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares in the company, valued at approximately $18,027,680.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $78.51, for a total transaction of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.54, for a total transaction of $994,062.80.
• On Wednesday, May 22nd, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $74.08, for a total transaction of $949,705.60.
• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The shares were sold at an average price of $74.94, for a total transaction of $4,561,073.22.
• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total transaction of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total transaction of $2,299,651.60.

Cloudflare Stock Performance

Shares of NET stock opened at $86.94 on Friday. The company has a 50 day moving average price of $76.69 and a 200-day moving average price of $85.44. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The firm has a market capitalization of $29.54 billion, a PE ratio of -164.04 and a beta of 1.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The company had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on NET shares. JPMorgan Chase & Co. dropped their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Citigroup dropped their price target on shares of Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research report on Thursday, May 9th. Royal Bank of Canada dropped their price target on shares of Cloudflare from $108.00 to $90.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Oppenheimer dropped their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday, May 3rd. Finally, Piper Sandler reissued a “neutral” rating and set a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average price target of $90.96.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Cigna Investments Inc. New boosted its holdings in shares of Cloudflare by 4.2% in the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after buying an additional 129 shares during the last quarter. Yousif Capital Management LLC boosted its holdings in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after buying an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after buying an additional 132 shares during the last quarter. Quent Capital LLC boosted its holdings in shares of Cloudflare by 8.1% in the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its holdings in shares of Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

About Cloudflare

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.