Janel Riley Sells 4,327 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $167.60, for a total transaction of $725,205.20. Following the completion of the sale, the chief accounting officer now directly owns 74,698 shares in the company, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Cloudflare Price Performance

Shares of NET stock opened at $156.52 on Friday. The company has a market capitalization of $53.72 billion, a PE ratio of -711.47 and a beta of 1.12. The firm has a fifty day simple moving average of $129.34 and a 200-day simple moving average of $102.57. 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, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare during the 4th quarter valued at $43,000. Capital Performance Advisors LLP bought a new position in Cloudflare during the 3rd quarter valued at $38,000. Quarry LP boosted its stake 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 acquiring an additional 133 shares during the last quarter. Larson Financial Group LLC boosted its stake 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 acquiring an additional 517 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. Susquehanna upped their price target on shares of Cloudflare from $95.00 to $170.00 and gave the company a “neutral” rating in a report on Monday, February 10th. UBS Group boosted their price objective on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Truist Financial boosted their price objective 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. JMP Securities boosted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Finally, Piper Sandler boosted their price objective on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price 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.