Cloudflare, Inc. (NYSE:NET) COO Sells $2,901,422.40 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40. Following the completion of the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $19,572,040.44. The trade was a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20.
• 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 value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were 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 shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00.

Cloudflare Stock Down 1.1 %

NET stock opened at $113.60 on Friday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The stock has a market capitalization of $38.99 billion, a price-to-earnings ratio of -436.92 and a beta of 1.10. The business’s fifty day moving average price is $96.10 and its two-hundred day moving average price is $85.03.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on NET. Piper Sandler increased their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. BNP Paribas began coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Scotiabank boosted their price target on 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 price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a report on Friday. Finally, UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $95.20.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in NET. ORG Partners LLC lifted its position in shares of Cloudflare by 7,510.0% during the 2nd quarter. ORG Partners LLC now owns 761 shares of the company’s stock valued at $64,000 after acquiring an additional 751 shares during the period. Blue Trust Inc. lifted its position 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 purchasing an additional 752 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its position 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 purchasing an additional 19,446 shares during the period. Western Financial Corp CA increased its holdings in Cloudflare by 13.2% in the 2nd quarter. Western Financial Corp CA now owns 12,140 shares of the company’s stock valued at $1,006,000 after buying an additional 1,416 shares during the period. Finally, Hennion & Walsh Asset Management Inc. bought a new position in Cloudflare in the 2nd quarter valued at about $320,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.