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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 20,000 shares of the stock in a transaction that occurred on Tuesday, October 12th. The shares were sold at an average price of $148.42, for a total transaction of $2,968,400.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

NET stock opened at $159.43 on Thursday. Cloudflare, Inc. has a one year low of $50.54 and a one year high of $159.47. The stock has a market capitalization of $49.81 billion, a PE ratio of -354.28 and a beta of 0.03. The company has a debt-to-equity ratio of 0.50, a quick ratio of 5.72 and a current ratio of 5.72. The company has a fifty day moving average of $126.52 and a 200-day moving average of $102.61.

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

Hedge funds have recently added to or reduced their stakes in the company. Van ECK Associates Corp acquired a new stake in shares of Cloudflare in the 1st quarter worth $3,198,000. Clear Harbor Asset Management LLC lifted its stake in shares of Cloudflare by 6.2% in the 2nd quarter. Clear Harbor Asset Management LLC now owns 21,717 shares of the company’s stock worth $2,299,000 after acquiring an additional 1,270 shares during the period. CIBC Asset Management Inc lifted its stake in shares of Cloudflare by 1,619.3% in the 1st quarter. CIBC Asset Management Inc now owns 188,661 shares of the company’s stock worth $13,255,000 after acquiring an additional 177,688 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Cloudflare by 27.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,016,674 shares of the company’s stock worth $107,604,000 after acquiring an additional 221,982 shares during the period. Finally, Toronto Dominion Bank lifted its stake in shares of Cloudflare by 19.9% in the second quarter. Toronto Dominion Bank now owns 32,226 shares of the company’s stock valued at $3,411,000 after purchasing an additional 5,358 shares during the period. Institutional investors own 66.94% of the company’s stock.

A number of brokerages have commented on NET. Argus increased their price objective on shares of Cloudflare from $125.00 to $140.00 and gave the company a “buy” rating in a research report on Tuesday, August 10th. Wells Fargo & Company began coverage on shares of Cloudflare in a research report on Monday, October 4th. They issued an “equal weight” rating and a $122.00 target price on the stock. Oppenheimer downgraded shares of Cloudflare from an “outperform” rating to a “market perform” rating in a research report on Friday, September 24th. Cowen increased their target price on shares of Cloudflare from $124.00 to $135.00 and gave the company an “outperform” rating in a research report on Friday, August 6th. Finally, Truist increased their target price 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $116.97.

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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