Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NETGet Free Report) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the sale, the chief financial officer now directly owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $84.10 on Monday. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The business has a 50-day moving average price of $96.38 and a 200 day moving average price of $82.10. The firm has a market cap of $28.40 billion, a PE ratio of -152.91 and a beta of 1.12.

Cloudflare (NYSE:NETGet Free Report) last posted its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million during the quarter, compared to analyst estimates of $352.70 million. Sell-side analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on NET shares. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a research report on Wednesday, April 17th. Royal Bank of Canada boosted their price objective on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. DZ Bank cut Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price objective for the company. in a report on Tuesday, February 13th. JMP Securities boosted their price objective on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Wednesday, January 31st. Finally, Morgan Stanley boosted their price objective on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a report on Monday, February 12th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $87.08.

Check Out Our Latest Report on NET

Institutional Investors Weigh In On Cloudflare

Large investors have recently bought and sold shares of the company. Riverview Trust Co purchased a new stake in Cloudflare during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC increased its stake in Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Cloudflare during the 4th quarter worth approximately $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare during the 4th quarter worth approximately $39,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of Cloudflare in the first quarter valued at approximately $29,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

About Cloudflare

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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