Thomas J. Seifert Sells 28,635 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the transaction, the chief financial officer now directly owns 293,582 shares of the company’s stock, valued at approximately $47,580,834.74. This trade represents a 8.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Cloudflare Trading Down 2.5 %

Cloudflare stock opened at $156.52 on Friday. The firm has a 50 day moving average of $129.34 and a 200 day moving average of $102.57. The firm has a market capitalization of $53.72 billion, a price-to-earnings ratio of -711.47 and a beta of 1.12. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently added to or reduced their stakes in NET. Capital Performance Advisors LLP purchased a new stake in Cloudflare during the 3rd quarter valued at approximately $38,000. Quarry LP grew its holdings in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in Cloudflare during the 4th quarter valued at approximately $43,000. Quest Partners LLC purchased a new stake in Cloudflare during the 3rd quarter valued at approximately $54,000. Finally, Larson Financial Group LLC grew its holdings in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NET has been the subject of several recent analyst reports. UBS Group upped their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Finally, Truist Financial boosted their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, January 28th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $136.28.

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.