Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 33,864 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 33,864 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $119.40, for a total transaction of $4,043,361.60. Following the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at $30,192,558.60. This represents a 11.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cloudflare Price Performance

NET opened at $123.89 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $124.64. 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 company’s 50 day simple moving average is $109.35 and its 200-day simple moving average is $92.22. The stock has a market capitalization of $42.52 billion, a P/E ratio of -476.49 and a beta of 1.10.

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

Institutional Trading of Cloudflare

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of Cloudflare by 2.6% during the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after purchasing an additional 121,810 shares during the last quarter. Marshall Wace LLP boosted its stake in Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after acquiring an additional 855,334 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Cloudflare by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares during the last quarter. Swiss National Bank boosted its stake in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock valued at $72,283,000 after acquiring an additional 10,100 shares during the last quarter. Finally, National Pension Service boosted its stake in Cloudflare by 0.9% in the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. UBS Group upped their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company upped their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research report on Tuesday, January 7th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Finally, Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and increased their price target for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus 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.