Cloudflare, Inc. (NYSE:NET) COO Sells $1,006,498.20 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $78.51, for a total value of $1,006,498.20. Following the completion of the transaction, the chief operating officer now directly owns 211,394 shares in the company, valued at $16,596,542.94. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.54, for a total value of $994,062.80.
• On Wednesday, May 22nd, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $74.08, for a total transaction of $949,705.60.
• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The shares were sold at an average price of $74.94, for a total transaction of $4,561,073.22.
• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total transaction of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total value of $2,299,651.60.

Cloudflare Stock Down 1.7 %

NET stock opened at $79.28 on Thursday. The stock has a fifty day moving average of $77.01 and a 200-day moving average of $85.35. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company has a market capitalization of $26.94 billion, a price-to-earnings ratio of -149.58 and a beta of 1.08. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Analyst Ratings Changes

NET has been the topic of several recent research reports. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and increased their price target for the stock from $76.00 to $82.00 in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $135.00 price target on shares of Cloudflare in a research note on Friday, May 31st. Mizuho dropped their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Cantor Fitzgerald reissued a “neutral” rating and set a $80.00 target price on shares of Cloudflare in a research report on Friday, June 21st. Finally, Oppenheimer dropped their price target on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a research report on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.96.

Hedge Funds Weigh In On Cloudflare

Large investors have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. purchased a new position in Cloudflare during the 3rd quarter valued at about $569,000. LPL Financial LLC grew its stake in Cloudflare by 5.3% during the third quarter. LPL Financial LLC now owns 114,510 shares of the company’s stock valued at $7,219,000 after acquiring an additional 5,806 shares in the last quarter. Mariner LLC increased its holdings in Cloudflare by 3.2% during the 3rd quarter. Mariner LLC now owns 85,444 shares of the company’s stock worth $5,387,000 after acquiring an additional 2,652 shares during the period. Northern Trust Corp lifted its stake in Cloudflare by 3.1% in the 3rd quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after purchasing an additional 51,345 shares in the last quarter. Finally, Profund Advisors LLC boosted its holdings in Cloudflare by 1.2% in the 3rd quarter. Profund Advisors LLC now owns 21,982 shares of the company’s stock valued at $1,386,000 after purchasing an additional 251 shares during the period. 82.68% of the stock is owned by institutional investors.

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.