Insider Selling: Cloudflare, Inc. (NYSE:NET) CAO Sells $1,317,904.86 in Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 17,938 shares of the stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $73.47, for a total transaction of $1,317,904.86. Following the transaction, the chief accounting officer now directly owns 87,270 shares in the company, valued at approximately $6,411,726.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Janel Riley also recently made the following trade(s):

• On Friday, August 16th, Janel Riley sold 3,495 shares of Cloudflare stock. The stock was sold at an average price of $81.65, for a total value of $285,366.75.

Cloudflare Trading Up 0.3 %

NYSE NET opened at $82.38 on Monday. The company’s fifty day moving average price is $79.48 and its two-hundred day moving average price is $85.03. The company has a market capitalization of $27.99 billion, a price-to-earnings ratio of -155.43 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.90% and a negative net margin of 6.90%. The business had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. As a group, research analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on NET. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and boosted their price target for the company from $76.00 to $82.00 in a research report on Tuesday, June 25th. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada boosted their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Finally, Morgan Stanley reissued an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.29.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the business. International Assets Investment Management LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth approximately $11,639,000. Cerity Partners LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at approximately $649,000. NewEdge Wealth LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at approximately $232,000. Simplicity Solutions LLC bought a new stake in Cloudflare during the fourth quarter worth approximately $257,000. Finally, Daiwa Securities Group Inc. lifted its position in Cloudflare by 4.7% in the fourth quarter. Daiwa Securities Group Inc. now owns 17,652 shares of the company’s stock worth $1,470,000 after purchasing an additional 800 shares during the period. Institutional investors own 82.68% of the company’s stock.

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.