Cloudflare, Inc. (NYSE:NET) CFO Sells $4,043,361.60 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 33,864 shares of the company’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $119.40, for a total value of $4,043,361.60. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at $30,192,558.60. This represents a 11.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Trading Up 0.6 %

Shares of NYSE:NET opened at $123.89 on Friday. The stock has a market capitalization of $42.52 billion, a PE ratio of -476.49 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $124.64. The firm has a fifty day moving average price of $109.35 and a 200 day moving average price of $92.22. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on NET. Scotiabank upped their price target on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a report on Tuesday. Wells Fargo & Company boosted their target price on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and boosted their target price for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. BNP Paribas initiated coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $108.32.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Hartline Investment Corp lifted its position in Cloudflare by 7.6% during the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock worth $21,062,000 after acquiring an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in Cloudflare during the 3rd quarter worth $25,588,000. Charles Schwab Investment Management Inc. lifted its position in 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 last quarter. National Pension Service lifted its position in Cloudflare by 0.9% during 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 during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in Cloudflare during the 2nd quarter worth $7,319,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.