Michelle Zatlyn Sells 35,118 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the sale, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at $18,212,582.70. The trade was a 16.88 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were 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 stock was 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 transaction of $988,806.60.

Cloudflare Stock Performance

NYSE:NET opened at $99.37 on Friday. The stock’s 50-day moving average is $89.57 and its 200-day moving average is $82.10. The stock has a market cap of $34.10 billion, a P/E ratio of -382.19 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced 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). The firm had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Hartline Investment Corp increased its stake in shares of Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new stake in Cloudflare during the 3rd quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after purchasing an additional 29,960 shares during the period. National Pension Service raised its holdings in Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of Cloudflare in the 2nd quarter valued at $7,319,000. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Guggenheim boosted their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Wells Fargo & Company increased their price target on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Susquehanna lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. UBS Group increased their target price on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Piper Sandler boosted their price target on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $92.88.

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.