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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total value of $2,049,450.00. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $34,549,491.47. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cloudflare Stock Performance

Shares of NET stock opened at $144.14 on Thursday. The company’s fifty day simple moving average is $116.71 and its two-hundred day simple moving average is $95.92. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $144.30. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

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

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NET. Cantor Fitzgerald began coverage on shares of Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Scotiabank lifted their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Jefferies Financial Group upped their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group raised shares of Cloudflare from a “sell” rating to a “buy” rating and boosted their target price for the stock from $77.00 to $140.00 in a research report on Thursday, January 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $112.32.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of the stock. CVA Family Office LLC grew its stake in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP lifted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Cloudflare during the third quarter valued at approximately $38,000. Quest Partners LLC bought a new position in shares of Cloudflare during the third quarter valued at approximately $54,000. Finally, Versant Capital Management Inc lifted its stake in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.