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

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60. Following the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $17,372,001.96. The trade was a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were 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 stock was sold at an average price of $82.60, for a total value 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.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $76.14, for a total value of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.13, for a total transaction of $988,806.60.

Cloudflare Price Performance

Cloudflare stock opened at $99.38 on Thursday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The business has a 50-day simple moving average of $89.15 and a 200 day simple moving average of $81.98. The stock has a market cap of $34.11 billion, a price-to-earnings ratio of -382.23 and a beta of 1.10. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently made changes to their positions in the business. CVA Family Office LLC increased its holdings 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 buying an additional 171 shares during the period. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare in the second quarter worth $29,000. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the last quarter. Versant Capital Management Inc raised its position in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Cloudflare in the third quarter worth $38,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on NET shares. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Piper Sandler raised their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Mizuho upped their price target on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Guggenheim increased their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $92.88.

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.