Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction on Wednesday, December 18th. The shares were sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $28,503,393.68. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cloudflare Stock Performance

NET stock opened at $112.69 on Friday. The stock’s fifty day moving average is $98.69 and its two-hundred day moving average is $86.41. The stock has a market capitalization of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share 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 firm had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. On average, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently weighed in on NET shares. Jefferies Financial Group raised their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and raised their price objective for the company from $95.00 to $136.00 in a research note on Tuesday. BNP Paribas started coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Scotiabank increased their target price on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Finally, Mizuho lifted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $97.81.

Hedge Funds Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CVA Family Office LLC increased its position in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP grew its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter worth $38,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter valued at $54,000. Finally, Blue Trust Inc. raised its stake in shares of Cloudflare by 37,600.0% during the second quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.