Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at $17,372,001.96. The trade was a 12.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total value of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $76.14, for a total value of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.13, for a total value of $988,806.60.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $99.37 on Friday. The stock’s 50-day simple moving average is $89.57 and its 200-day simple moving average is $82.10. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00. The company has a market capitalization of $34.10 billion, a price-to-earnings ratio of -382.19 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) 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 for the quarter, compared to the consensus estimate of $423.65 million. As a group, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have commented on NET. Wells Fargo & Company increased their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. BNP Paribas began coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Mizuho increased their target price on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada lifted their price objective on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $92.88.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of NET. Advisors Asset Management Inc. grew its stake in shares of Cloudflare by 15.6% during the first quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock valued at $171,000 after buying an additional 237 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after buying an additional 149,866 shares during the last quarter. B. Riley Wealth Advisors Inc. grew its stake in shares of Cloudflare by 26.6% during the first quarter. B. Riley Wealth Advisors Inc. now owns 3,936 shares of the company’s stock valued at $381,000 after buying an additional 828 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Cloudflare by 4.8% in the first quarter. California State Teachers Retirement System now owns 447,813 shares of the company’s stock valued at $43,362,000 after purchasing an additional 20,533 shares during the period. Finally, Comerica Bank boosted its holdings in shares of Cloudflare by 19.9% in the first quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after purchasing an additional 4,733 shares during the period. Institutional investors own 82.68% of the company’s stock.

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.