Thomas J. Seifert Sells 31,136 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 31,136 shares of Cloudflare stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total value of $3,739,433.60. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $30,369,566.90. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Cloudflare Stock Up 2.7 %

NYSE NET opened at $123.03 on Thursday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $123.13. The stock has a market capitalization of $42.22 billion, a PE ratio of -473.20 and a beta of 1.10. 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 business’s 50-day moving average is $109.35 and its 200 day moving average is $92.22.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $423.65 million. Sell-side analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NET. Hartline Investment Corp boosted its stake in shares of Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares in the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare during the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service raised its position in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after acquiring an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of Cloudflare in the 2nd quarter valued at approximately $7,319,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on NET shares. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and boosted their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Piper Sandler boosted their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company increased their price target on shares of Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, January 7th. Mizuho lifted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Finally, UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $108.32.

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.