Investors Purchase High Volume of Cloudflare Call Options (NYSE:NET)

Cloudflare, Inc. (NYSE:NET) saw unusually large options trading on Wednesday. Stock traders bought 24,325 call options on the stock. This is an increase of approximately 76% compared to the average volume of 13,835 call options.

Cloudflare Stock Performance

Shares of NET opened at $92.00 on Friday. Cloudflare has a one year low of $66.24 and a one year 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 50-day moving average price of $85.57 and a 200 day moving average price of $80.80.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. On average, equities analysts forecast that Cloudflare will post -0.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Cloudflare news, CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 5.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $76.14, for a total value of $976,114.80. Following the completion of the transaction, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 473,548 shares of company stock valued at $39,451,976 over the last quarter. Company insiders own 12.83% of the company’s stock.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently bought and sold shares of NET. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare during the 2nd quarter worth approximately $29,000. Quarry LP raised its position in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have commented on NET. BNP Paribas began coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. UBS Group boosted their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Cantor Fitzgerald boosted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Mizuho boosted their target price on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Royal Bank of Canada boosted their target price on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $92.88.

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.