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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction on Friday, February 21st. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $123.75, for a total value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total value of $3,087,056.00.
• 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 Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $112.68, for a total transaction of $2,889,115.20.
• 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.

Cloudflare Stock Down 2.9 %

Shares of NYSE NET opened at $151.83 on Friday. 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’s 50 day moving average is $130.11 and its two-hundred day moving average is $103.27. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The firm has a market cap of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Trading of Cloudflare

Several hedge funds have recently made changes to their positions in NET. Groupama Asset Managment acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $269,200,000. Norges Bank purchased a new position in Cloudflare in the 4th quarter valued at approximately $249,544,000. American Century Companies Inc. grew its stake in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Fred Alger Management LLC increased its position in shares of Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after acquiring an additional 836,591 shares during the period. Finally, Invesco Ltd. raised its stake in shares of Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock valued at $116,178,000 after acquiring an additional 804,059 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

NET has been the topic of several research analyst reports. JMP Securities lifted their price objective on Cloudflare from $135.00 to $180.00 and gave the stock a “market outperform” rating in a report on Friday, February 7th. UBS Group raised their target price on Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Jefferies Financial Group boosted their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a research report on Thursday, December 19th. DZ Bank downgraded Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a research note on Tuesday, February 11th. Finally, The Goldman Sachs Group lifted their target price on shares of Cloudflare from $140.00 to $183.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $136.28.

Cloudflare Company Profile

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.