Cloudflare, Inc. (NYSE:NET) Director Sells $605,000.00 in Stock

Cloudflare, Inc. (NYSE:NET) Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $88.00, for a total value of $605,000.00. Following the sale, the director now owns 5,927 shares of the company’s stock, valued at $521,576. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Stock Performance

Cloudflare stock traded down $1.06 during trading hours on Monday, reaching $86.49. 2,009,331 shares of the stock were exchanged, compared to its average volume of 3,128,919. The stock has a market cap of $29.55 billion, a P/E ratio of -297.90 and a beta of 1.10. Cloudflare, Inc. has a 52-week low of $61.34 and a 52-week high of $116.00. The firm’s 50 day moving average is $83.82 and its 200 day moving average is $80.48. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. During the same quarter last year, the business earned ($0.12) EPS. Cloudflare’s revenue for the quarter was up 30.0% on a year-over-year basis. Analysts predict that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently bought and sold shares of the business. Los Angeles Capital Management LLC boosted its stake in shares of Cloudflare by 70.5% during the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after buying an additional 116,130 shares during the period. State of New Jersey Common Pension Fund D lifted its holdings in shares of Cloudflare by 0.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 110,832 shares of the company’s stock worth $8,965,000 after buying an additional 786 shares during the last quarter. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter valued at about $38,000. Global Wealth Management Investment Advisory Inc. lifted its position in Cloudflare by 15.2% in the third quarter. Global Wealth Management Investment Advisory Inc. now owns 18,094 shares of the company’s stock worth $1,464,000 after purchasing an additional 2,384 shares during the period. Finally, United Advisor Group LLC bought a new position in Cloudflare during the third quarter worth about $1,090,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NET. Guggenheim lifted their price target on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Royal Bank of Canada upped their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Scotiabank initiated coverage on Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective for the company. Piper Sandler increased their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Robert W. Baird boosted their target price on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $91.72.

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.