Cloudflare, Inc. (NYSE:NET) CFO Sells $1,200,000.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $120.00, for a total value of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cloudflare Stock Performance

NET traded up $1.01 during trading on Friday, reaching $118.95. The company’s stock had a trading volume of 4,286,078 shares, compared to its average volume of 3,020,484. The company has a market capitalization of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. The company’s fifty day moving average price is $136.61 and its 200-day moving average price is $109.54. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC increased its stake in Cloudflare by 0.8% in the 4th quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after purchasing an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after acquiring an additional 77 shares during the last quarter. Atomi Financial Group Inc. raised its position in Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after acquiring an additional 94 shares during the last quarter. Baxter Bros Inc. lifted its holdings in shares of Cloudflare by 3.8% in the fourth quarter. Baxter Bros Inc. now owns 2,750 shares of the company’s stock valued at $296,000 after purchasing an additional 100 shares in the last quarter. Finally, Ellevest Inc. increased its stake in shares of Cloudflare by 2.3% during the 4th quarter. Ellevest Inc. now owns 4,538 shares of the company’s stock worth $489,000 after purchasing an additional 102 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Truist Financial increased their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Guggenheim increased their target price on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Piper Sandler cut their price target on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Susquehanna upped their price objective on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Finally, UBS Group cut their target price on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $131.64.

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.