Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Friday, October 18th. The shares were sold at an average price of $90.88, for a total transaction of $1,363,200.00. Following the completion of the transaction, the chief financial officer now 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 legal filing with the Securities & Exchange Commission, which is available at this link.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $87.64 on Thursday. The business’s 50-day moving average price is $82.93 and its 200-day moving average price is $80.79. The firm has a market capitalization of $29.78 billion, a PE ratio of -165.36 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share 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 business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the firm posted ($0.12) earnings per share. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. Sell-side analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of NET. PNC Financial Services Group Inc. raised its holdings in Cloudflare by 13.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,132 shares of the company’s stock valued at $594,000 after buying an additional 824 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares during the period. Wedmont Private Capital bought a new stake in shares of Cloudflare in the first quarter worth about $255,000. RFG Advisory LLC increased its holdings in Cloudflare by 9.6% during the 1st quarter. RFG Advisory LLC now owns 7,306 shares of the company’s stock valued at $707,000 after purchasing an additional 637 shares during the period. Finally, Gulf International Bank UK Ltd raised its position in Cloudflare by 22.8% during the 1st quarter. Gulf International Bank UK Ltd now owns 27,857 shares of the company’s stock valued at $2,697,000 after purchasing an additional 5,180 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on NET. Mizuho increased their price objective on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, October 17th. Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Robert W. Baird boosted their price target on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, Scotiabank assumed coverage on shares of Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price objective for the company. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Hold” and a consensus target price of $91.72.

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.