Cloudflare, Inc. (NYSE:NET) COO Sells $3,697,925.40 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 35,118 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $18,212,582.70. This trade represents a 16.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total value of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.13, for a total transaction of $988,806.60.

Cloudflare Stock Down 2.8 %

NET opened at $99.38 on Thursday. The company has a market cap of $34.11 billion, a PE ratio of -382.23 and a beta of 1.10. 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, Inc. has a 1 year low of $66.24 and a 1 year high of $116.00. The firm has a 50 day moving average price of $89.15 and a 200 day moving average price of $81.98.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently modified their holdings of the stock. CVA Family Office LLC lifted its position in Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Cloudflare during the second quarter worth $29,000. Quarry LP boosted its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Versant Capital Management Inc grew its holdings in Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Cloudflare during the 3rd quarter worth $38,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on NET shares. Susquehanna lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Wells Fargo & Company boosted their price target on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Needham & Company LLC restated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Finally, Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. 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, the stock presently has a consensus rating of “Hold” and an average target price of $92.88.

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.