Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $22,284,303.57. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cloudflare Trading Up 5.0 %

NYSE:NET opened at $83.43 on Friday. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a 50-day moving average of $79.91 and a 200-day moving average of $81.43. The company has a market cap of $28.35 billion, a PE ratio of -157.42 and a beta of 1.10. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.12) earnings per share. As a group, equities research analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently made changes to their positions in the business. Riverview Trust Co bought a new stake in shares of Cloudflare during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its position in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Cloudflare in the 2nd quarter worth about $29,000. 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 in the last quarter. Finally, Versant Capital Management Inc grew its position in Cloudflare by 1,202.9% in the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

NET has been the topic of a number of recent research reports. Wolfe Research assumed coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. Cantor Fitzgerald boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Guggenheim boosted their target price on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Finally, Piper Sandler boosted their target price on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Three equities 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $92.29.

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.