Thomas J. Seifert Sells 28,635 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the completion of the transaction, the chief financial officer now directly owns 293,582 shares in the company, valued at $47,580,834.74. This trade represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Cloudflare Price Performance

NET opened at $151.83 on Friday. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $130.11 and a 200-day moving average price of $103.08. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently modified their holdings of NET. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter valued at approximately $38,000. Quarry LP boosted its position in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after acquiring an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $43,000. Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter valued at approximately $54,000. Finally, Larson Financial Group LLC lifted its position in Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NET shares. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Piper Sandler increased their target price on shares of Cloudflare from $92.00 to $153.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Truist Financial increased their target price on shares of Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Mizuho increased their target price on shares of Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, February 10th. Finally, The Goldman Sachs Group increased their target price on shares of Cloudflare from $140.00 to $183.00 and gave the company a “buy” rating in a report on Friday, February 7th. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $136.28.

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.