Cloudflare, Inc. (NYSE:NET) CFO Sells $1,690,800.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Price Performance

NET traded down $0.52 on Thursday, reaching $108.58. The stock had a trading volume of 3,150,617 shares, compared to its average volume of 3,159,352. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The company has a market capitalization of $37.26 billion, a price-to-earnings ratio of -417.62 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $119.42. The firm has a 50-day moving average of $97.98 and a 200-day moving average of $85.94.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. CVA Family Office LLC boosted 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 in the last quarter. Quarry LP raised its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare during the third quarter worth approximately $38,000. Quest Partners LLC acquired a new stake in Cloudflare in the 3rd quarter valued at $54,000. Finally, Blue Trust Inc. grew its position in Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares during the period. Institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of several research analyst reports. Wells Fargo & Company boosted their price objective on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group lifted their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and raised their target price for the company from $95.00 to $136.00 in a research note on Tuesday. BNP Paribas began coverage on shares of Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 target price for the company. Finally, Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $92.00 to $130.00 in a research report on Monday, December 2nd. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $97.81.

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.