Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80. 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 Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The shares were sold at an average price of $164.84, for a total transaction of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.
• 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 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 transaction 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 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.

Cloudflare Stock Down 2.9 %

NET stock opened at $151.83 on Friday. The stock has a market capitalization of $52.11 billion, a P/E ratio of -690.12 and a beta of 1.12. 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, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The firm has a 50-day moving average price of $130.11 and a 200-day moving average price of $103.27.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of several research reports. UBS Group upped their price target on shares of Cloudflare from $130.00 to $165.00 and gave the company a “neutral” rating in a research note on Friday, February 7th. Morgan Stanley upped their price target on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Truist Financial upped their price target on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and issued a $185.00 price target on shares of Cloudflare in a research note on Tuesday, February 18th. Finally, Mizuho upped their price target on shares of Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and a consensus target price of $136.28.

Institutional Trading of Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter valued at approximately $43,000. Capital Performance Advisors LLP acquired a new stake in Cloudflare during the 3rd quarter valued at approximately $38,000. Quarry LP increased its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Larson Financial Group LLC increased its position in Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. Finally, Versant Capital Management Inc increased its position in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.