Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the transaction, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cloudflare Trading Down 3.0 %

NYSE NET opened at $84.10 on Friday. The stock has a market capitalization of $28.40 billion, a P/E ratio of -152.90 and a beta of 1.12. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The firm has a 50-day moving average price of $96.38 and a 200 day moving average price of $81.78. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Equities research analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Truist Financial upped their price objective on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Mizuho decreased their price objective on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a research note on Monday, April 15th. Susquehanna upped their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research note on Friday, February 9th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Finally, KeyCorp upped their price objective on shares of Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research note on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus price target of $87.08.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after buying an additional 740,914 shares in the last quarter. Capital World Investors grew its position in shares of Cloudflare by 1.8% in the fourth quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock valued at $2,293,310,000 after purchasing an additional 487,308 shares during the last quarter. Moneta Group Investment Advisors LLC grew its position in shares of Cloudflare by 131,133.8% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the last quarter. State Street Corp grew its position in shares of Cloudflare by 5.3% in the first quarter. State Street Corp now owns 5,552,609 shares of the company’s stock valued at $664,647,000 after purchasing an additional 278,422 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Cloudflare by 4.0% in the first quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after purchasing an additional 146,503 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.