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

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $20,824,263.60. The trade was a 12.91 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• 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 stock was 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 opened at $125.19 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a fifty day simple moving average of $110.70 and a two-hundred day simple moving average of $92.79. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $125.71. The firm has a market cap of $42.96 billion, a price-to-earnings ratio of -481.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. Analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. CVA Family Office LLC lifted its position in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new stake in Cloudflare during the 3rd quarter worth about $38,000. Versant Capital Management Inc grew its holdings 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 buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cloudflare by 59.0% during the fourth 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 period. 82.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. Cantor Fitzgerald started coverage on shares of Cloudflare in a research report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, January 7th. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Scotiabank boosted their price objective on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada raised their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $108.32.

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.