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

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Friday, January 24th. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00. Following the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at $21,403,676.25. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 transaction of $3,087,056.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.

Cloudflare Price Performance

Shares of NYSE:NET traded up $1.26 during trading hours on Friday, hitting $125.19. 2,108,588 shares of the company’s stock traded hands, compared to its average volume of 2,692,850. The company has a market cap of $42.96 billion, a price-to-earnings ratio of -481.49 and a beta of 1.10. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $125.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company’s fifty day simple moving average is $110.70 and its two-hundred day simple moving average is $92.72.

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

Analyst Ratings Changes

A number of equities analysts recently weighed in on NET shares. Royal Bank of Canada raised their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Jefferies Financial Group lifted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald initiated coverage on Cloudflare in a research note on Friday, January 17th. They issued a “neutral” rating and a $111.00 target price for the company. Mizuho increased their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, Piper Sandler lifted their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $108.32.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently bought and sold shares of the business. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare during the third quarter worth $25,588,000. International Assets Investment Management LLC acquired a new stake in Cloudflare in the third quarter valued at $147,160,000. Parnassus Investments LLC raised its position in shares of Cloudflare by 1,851.9% in the 3rd quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC increased its position in Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after buying an additional 121,810 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its stake in Cloudflare by 70.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after acquiring an additional 116,130 shares in the last quarter. 82.68% of the stock is currently 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.