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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 20,000 shares of Cloudflare stock in a transaction dated Tuesday, September 14th. The shares were sold at an average price of $127.31, for a total transaction of $2,546,200.00. Following the completion of the sale, the chief financial officer now owns 70,156 shares in the company, valued at $8,931,560.36. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Shares of NET opened at $133.49 on Friday. Cloudflare, Inc. has a one year low of $34.53 and a one year high of $133.95. The company has a 50-day moving average of $119.75 and a two-hundred day moving average of $94.62. The stock has a market cap of $41.71 billion, a price-to-earnings ratio of -296.64 and a beta of 0.03. The company has a debt-to-equity ratio of 0.50, a current ratio of 5.72 and a quick ratio of 5.72.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, August 5th. The company reported ($0.08) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.04. The business had revenue of $152.43 million during the quarter, compared to analysts’ expectations of $146.22 million. Cloudflare had a negative net margin of 25.63% and a negative return on equity of 12.61%. Analysts anticipate that Cloudflare, Inc. will post -0.46 earnings per share for the current year.

Several analysts recently weighed in on the stock. Truist lifted their price objective on shares of Cloudflare from $110.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Mizuho raised their target price on shares of Cloudflare from $96.00 to $105.00 and gave the company a “neutral” rating in a research note on Friday, August 6th. Truist Securities raised their target price on shares of Cloudflare from $110.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, August 6th. BTIG Research cut shares of Cloudflare from a “buy” rating to a “neutral” rating and lowered their target price for the company from $111.97 to $105.52 in a research note on Tuesday, July 20th. They noted that the move was a valuation call. Finally, William Blair reissued an “outperform” rating on shares of Cloudflare in a research note on Thursday, August 5th. Six equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $110.13.

Hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp acquired a new stake in shares of Cloudflare during the first quarter worth approximately $3,198,000. Clear Harbor Asset Management LLC boosted its holdings in shares of Cloudflare by 6.2% during the second quarter. Clear Harbor Asset Management LLC now owns 21,717 shares of the company’s stock worth $2,299,000 after purchasing an additional 1,270 shares during the period. CIBC Asset Management Inc lifted its stake in Cloudflare by 1,619.3% in the first quarter. CIBC Asset Management Inc now owns 188,661 shares of the company’s stock valued at $13,255,000 after acquiring an additional 177,688 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Cloudflare by 112.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 37,432 shares of the company’s stock worth $2,844,000 after purchasing an additional 19,809 shares during the last quarter. Finally, Aviva PLC raised its holdings in shares of Cloudflare by 62.4% during the 1st quarter. Aviva PLC now owns 55,782 shares of the company’s stock valued at $3,919,000 after purchasing an additional 21,426 shares in the last quarter. Institutional investors and hedge funds own 66.94% of the company’s stock.

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

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