Cloudflare, Inc. (NYSE:NET) CFO Sells $3,739,433.60 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 31,136 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $30,369,566.90. The trade was a 10.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cloudflare Trading Up 2.7 %

Shares of Cloudflare stock opened at $123.03 on Thursday. 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 market capitalization of $42.22 billion, a PE ratio of -473.20 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $123.13. The company’s fifty day simple moving average is $109.35 and its 200-day simple moving average is $92.22.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analyst estimates of $423.65 million. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and 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% in the third 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. Quarry LP boosted its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the period. Capital Performance Advisors LLP purchased a new stake in Cloudflare in the 3rd quarter worth $38,000. Quest Partners LLC bought a new stake in Cloudflare during the third quarter valued at about $54,000. Finally, Versant Capital Management Inc boosted its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on NET shares. Mizuho upped their price target on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Piper Sandler raised their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Wells Fargo & Company raised their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Finally, Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $136.00 in a research note on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Cloudflare currently has an average rating of “Hold” and an average price target of $108.32.

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.