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 firm’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total transaction of $3,354,994.00. Following the transaction, the insider now owns 413,413 shares in the company, valued at $54,095,091.05. This represents a 5.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.67, for a total value of $4,017,018.80.
• 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 value 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 value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00.

Cloudflare Stock Performance

NET opened at $118.62 on Friday. The business’s 50-day simple moving average is $137.52 and its 200 day simple moving average is $111.05. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $40.93 billion, a PE ratio of -539.17 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on NET. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Truist Financial boosted their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. JPMorgan Chase & Co. raised their target price on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective on the stock. in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $135.64.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of NET. Groupama Asset Managment acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $269,200,000. Norges Bank bought a new stake in Cloudflare in the 4th quarter valued at $249,544,000. American Century Companies Inc. lifted its holdings in Cloudflare by 82.0% during the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC boosted its position in Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after purchasing an additional 836,591 shares during the period. Finally, Invesco Ltd. increased its holdings in shares of Cloudflare by 292.5% in the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock valued at $116,178,000 after purchasing an additional 804,059 shares during the last quarter. Institutional investors 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.