Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,746,600.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 13th. The stock was sold at an average price of $58.22, for a total value of $1,746,600.00. Following the completion of the sale, the chief financial officer now directly owns 30,000 shares in the company, valued at $1,746,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of NYSE:NET opened at $58.29 on Friday. The company has a market cap of $17.82 billion and a P/E ratio of -89.68. The company has a debt-to-equity ratio of 0.44, a current ratio of 9.38 and a quick ratio of 9.38. Cloudflare, Inc. has a 1 year low of $14.50 and a 1 year high of $61.86. The stock’s fifty day moving average price is $40.47 and its 200-day moving average price is $33.90.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 6th. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.06) by $0.03. Cloudflare had a negative return on equity of 15.35% and a negative net margin of 36.66%. The company had revenue of $99.70 million for the quarter, compared to the consensus estimate of $94.17 million. During the same quarter in the prior year, the company earned ($0.22) earnings per share. Cloudflare’s revenue was up 47.9% on a year-over-year basis. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.34 earnings per share for the current year.

Hedge funds have recently bought and sold shares of the business. Nuveen Asset Management LLC bought a new position in Cloudflare in the second quarter valued at about $9,102,000. Ensign Peak Advisors Inc lifted its holdings in Cloudflare by 32.5% in the second quarter. Ensign Peak Advisors Inc now owns 71,260 shares of the company’s stock valued at $2,562,000 after acquiring an additional 17,469 shares during the period. New York State Common Retirement Fund bought a new position in Cloudflare in the second quarter valued at about $6,394,000. Charles Schwab Investment Management Inc. lifted its holdings in Cloudflare by 19.3% in the second quarter. Charles Schwab Investment Management Inc. now owns 196,213 shares of the company’s stock valued at $7,054,000 after acquiring an additional 31,698 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Cloudflare by 118,591.6% in the second quarter. Bank of Montreal Can now owns 593,458 shares of the company’s stock valued at $23,579,000 after acquiring an additional 592,958 shares during the period. 47.78% of the stock is currently owned by institutional investors.

Several equities research analysts recently weighed in on the company. Goldman Sachs Group upped their price target on Cloudflare from $27.00 to $39.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 24th. They noted that the move was a valuation call. JPMorgan Chase & Co. boosted their target price on Cloudflare from $30.00 to $52.00 and gave the stock an “overweight” rating in a report on Friday, July 10th. Jefferies Financial Group raised Cloudflare from a “hold” rating to a “buy” rating and boosted their target price for the stock from $27.00 to $50.00 in a report on Tuesday, July 28th. Morgan Stanley boosted their target price on Cloudflare from $34.00 to $42.00 and gave the stock an “equal weight” rating in a report on Friday, August 14th. Finally, Royal Bank of Canada boosted their target price on Cloudflare from $29.00 to $48.00 in a report on Tuesday, August 4th. Six analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Cloudflare has a consensus rating of “Buy” and a consensus price target of $40.41.

About Cloudflare

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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