Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 20,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $89.48, for a total transaction of $1,789,600.00. Following the transaction, the chief financial officer now owns 70,156 shares of the company’s stock, valued at approximately $6,277,558.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

NYSE NET opened at $93.47 on Friday. The stock has a market capitalization of $29.03 billion, a PE ratio of -222.55 and a beta of 0.03. Cloudflare, Inc. has a 52-week low of $27.92 and a 52-week high of $95.77. The business’s 50-day moving average price is $77.59. The company has a quick ratio of 6.78, a current ratio of 6.78 and a debt-to-equity ratio of 0.49.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.01). Cloudflare had a negative net margin of 26.49% and a negative return on equity of 11.84%. The company had revenue of $138.06 million during the quarter, compared to analysts’ expectations of $131.26 million. On average, equities research analysts predict that Cloudflare, Inc. will post -0.44 earnings per share for the current year.

A number of brokerages recently commented on NET. Truist Financial upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Tuesday, March 23rd. Mizuho started coverage on shares of Cloudflare in a research note on Monday, April 19th. They issued a “neutral” rating and a $77.00 price objective for the company. Zacks Investment Research downgraded shares of Cloudflare from a “hold” rating to a “sell” rating in a research note on Wednesday, May 19th. Morgan Stanley upped their price objective on shares of Cloudflare from $88.00 to $91.00 and gave the company an “equal weight” rating in a research note on Friday, May 7th. Finally, Truist Securities upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price objective for the company from $75.00 to $110.00 in a research note on Wednesday, March 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $81.17.

A number of institutional investors have recently modified their holdings of the business. Rehmann Capital Advisory Group purchased a new position in Cloudflare in the first quarter valued at about $251,000. Principal Financial Group Inc. increased its holdings in Cloudflare by 1.0% in the first quarter. Principal Financial Group Inc. now owns 263,619 shares of the company’s stock valued at $18,522,000 after buying an additional 2,619 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its holdings in Cloudflare by 11.2% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 139,228 shares of the company’s stock valued at $9,783,000 after buying an additional 14,000 shares in the last quarter. Beacon Investment Advisory Services Inc. purchased a new position in Cloudflare in the first quarter valued at about $421,000. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new position in Cloudflare in the first quarter valued at about $200,000. 61.67% of the stock is owned by institutional investors.

Cloudflare Company Profile

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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