Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction that occurred on Tuesday, March 25th. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00. Following the transaction, the insider now directly owns 413,413 shares in the company, valued at $54,095,091.05. This trade represents a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $117.34, for a total transaction of $3,008,597.60.
• 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 transaction of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total transaction 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 value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00.

Cloudflare Stock Down 3.1 %

NET stock opened at $114.89 on Friday. 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 firm has a market cap of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The firm has a 50 day simple moving average of $137.47 and a 200 day simple moving average of $111.31.

Cloudflare (NYSE:NET) last issued its quarterly earnings results 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%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NET. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Piper Sandler dropped their price target on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Wells Fargo & Company boosted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Finally, Truist Financial increased their price target on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $135.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Capital World Investors raised its holdings in shares of Cloudflare by 0.7% during the fourth quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock worth $3,812,942,000 after acquiring an additional 260,415 shares in the last quarter. Geode Capital Management LLC increased its position in Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock worth $526,986,000 after purchasing an additional 68,661 shares during the last quarter. Groupama Asset Managment acquired a new stake in shares of Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank acquired a new stake in shares of Cloudflare during the 4th quarter valued at about $249,544,000. Finally, American Century Companies Inc. increased its holdings in Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after buying an additional 1,017,399 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.