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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the transaction, the insider now owns 413,413 shares in the company, valued at approximately $48,509,881.42. The trade was a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80.
• 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 shares were sold at an average price of $123.75, for a total transaction 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.

Cloudflare Stock Performance

NET traded down $2.53 on Thursday, reaching $118.62. 2,272,713 shares of the stock were exchanged, compared to its average volume of 3,037,333. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company’s 50-day moving average price is $137.52 and its 200 day moving average price is $111.05. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37. The firm has a market capitalization of $40.93 billion, a PE ratio of -539.17 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced 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%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. DZ Bank lowered shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a report on Tuesday, February 11th. UBS Group dropped their price target on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada decreased their price objective on Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a report on Thursday, March 13th. Finally, Morgan Stanley began coverage on shares of Cloudflare in a report on Tuesday, March 18th. They set an “overweight” rating on the stock. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $135.64.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently added to or reduced their stakes in NET. Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare in the fourth quarter valued at about $43,000. Quarry LP increased its position in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares in the last quarter. Park Square Financial Group LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at approximately $56,000. Larson Financial Group LLC boosted its stake in Cloudflare by 1,988.5% in the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake in shares of Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the period. Hedge funds and other 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.