Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 25,640 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the completion of the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,489,020.12. This trade represents a 12.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Michelle Zatlyn also recently made the following trade(s):

• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total transaction of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The stock was sold at an average price of $81.60, for a total transaction of $5,230,560.00.

Cloudflare Stock Up 0.3 %

Shares of NET opened at $114.86 on Friday. The business’s fifty day moving average price is $95.50 and its 200 day moving average price is $84.68. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $116.00. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Research analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. BNP Paribas assumed coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price for the company. Scotiabank increased their target price on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Mizuho increased their target price on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Piper Sandler increased their target price on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $94.40.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. ORG Partners LLC grew its holdings in Cloudflare by 7,510.0% during the second quarter. ORG Partners LLC now owns 761 shares of the company’s stock worth $64,000 after acquiring an additional 751 shares during the period. Blue Trust Inc. grew its holdings in Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock worth $62,000 after acquiring an additional 752 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in Cloudflare by 1.2% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,661,425 shares of the company’s stock worth $137,616,000 after acquiring an additional 19,446 shares during the period. Western Financial Corp CA increased its stake in Cloudflare by 13.2% in the 2nd quarter. Western Financial Corp CA now owns 12,140 shares of the company’s stock worth $1,006,000 after purchasing an additional 1,416 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. purchased a new position in Cloudflare in the 2nd quarter worth about $320,000. 82.68% of the stock is currently owned by 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.