Maria S. Eitel Sells 6,875 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $88.00, for a total transaction of $605,000.00. Following the completion of the sale, the director now directly owns 5,927 shares of the company’s stock, valued at approximately $521,576. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Cloudflare Trading Up 5.4 %

NYSE:NET opened at $92.49 on Thursday. The business’s 50-day simple moving average is $84.30 and its 200-day simple moving average is $80.59. Cloudflare, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The stock has a market capitalization of $31.60 billion, a PE ratio of -318.93 and a beta of 1.10.

Analysts Set New Price Targets

NET has been the topic of a number of recent research reports. Robert W. Baird increased their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a report on Friday, August 2nd. Cantor Fitzgerald boosted 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. Royal Bank of Canada upped their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Finally, BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $91.72.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its position in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. increased its holdings in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after purchasing an additional 412,864 shares in the last quarter. Capital World Investors increased its holdings in Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Cloudflare by 1.2% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock valued at $137,616,000 after purchasing an additional 19,446 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares in the last quarter. 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.