Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction 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 $19,489,020.12. This represents a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $113.16, for a total value 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 value of $2,575,281.60.
• 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 value 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 stock was sold at an average price of $81.60, for a total value of $5,230,560.00.

Cloudflare Trading Up 0.3 %

Shares of NYSE NET traded up $0.34 during midday trading on Thursday, hitting $114.86. The stock had a trading volume of 1,627,500 shares, compared to its average volume of 3,162,321. The company has a market capitalization of $39.42 billion, a price-to-earnings ratio of -441.75 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. 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 company has a fifty day moving average price of $95.50 and a 200 day moving average price of $84.68.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million for 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, analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent analyst reports. Wells Fargo & Company raised their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. BNP Paribas assumed coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company. Piper Sandler raised their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upgraded 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 research report on Monday, December 2nd. Finally, UBS Group lifted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus price target of $94.40.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after purchasing an additional 2,575,396 shares during the last quarter. Geode Capital Management LLC grew its stake in Cloudflare by 2.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after buying an additional 121,810 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in Cloudflare by 1.2% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after buying an additional 19,446 shares during the last quarter. Marshall Wace LLP grew its stake in Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. Finally, American Century Companies Inc. grew its stake in Cloudflare by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after buying an additional 277,228 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.