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 firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $112.68, for a total value of $2,889,115.20. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,489,020.12. This trade represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• 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 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 transaction 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 transaction of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00.

Cloudflare Price Performance

Shares of NYSE:NET opened at $113.58 on Friday. The company has a market cap of $38.98 billion, a PE ratio of -436.85 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The firm has a 50-day simple moving average of $96.10 and a 200 day simple moving average of $84.95. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) 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%. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in the stock. CVA Family Office LLC increased its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP grew its position in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $38,000. Quest Partners LLC bought a new stake in shares of Cloudflare during the third quarter valued at approximately $54,000. Finally, Blue Trust Inc. boosted its position in shares of Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after buying an additional 752 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NET. Scotiabank upped their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Piper Sandler upped their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. UBS Group increased their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $92.00 to $130.00 in a report on Monday, December 2nd. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has an average rating of “Hold” and an average price target of $95.20.

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.