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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $78.71, for a total transaction of $1,180,650.00. Following the sale, the chief financial officer now directly owns 309,937 shares in the company, valued at approximately $24,395,141.27. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Down 2.2 %

Shares of NYSE NET traded down $1.77 during mid-day trading on Monday, reaching $77.70. The company had a trading volume of 5,549,049 shares, compared to its average volume of 3,605,561. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $26.40 billion, a PE ratio of -149.53 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The stock’s 50 day moving average is $77.83 and its 200-day moving average is $85.28.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The firm had revenue of $401.00 million for the quarter, compared to the consensus estimate of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.90%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted ($0.12) earnings per share. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Cigna Investments Inc. New grew its position in shares of Cloudflare by 4.2% in the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after purchasing an additional 129 shares during the last quarter. Yousif Capital Management LLC grew its position in shares of Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after purchasing an additional 130 shares during the last quarter. Forum Financial Management LP grew its position in shares of Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares during the last quarter. Soltis Investment Advisors LLC lifted its stake in shares of Cloudflare by 0.5% in the first quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after buying an additional 168 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Cloudflare by 34.4% in the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $65,000 after buying an additional 171 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. KeyCorp reduced their price target on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday, May 3rd. TD Cowen cut their price target on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Mizuho increased their target price on Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Royal Bank of Canada raised their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Cantor Fitzgerald raised their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $92.29.

Cloudflare Company Profile

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.