Cloudflare, Inc. (NYSE:NET) CFO Sells $1,707,150.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Cloudflare Stock Down 0.2 %

NET stock opened at $113.77 on Wednesday. The company has a market cap of $39.05 billion, a price-to-earnings ratio of -437.58 and a beta of 1.10. The company has a fifty day moving average price of $103.82 and a 200 day moving average price of $89.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $119.42.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Piper Sandler lifted their target price on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 target price on the stock. Scotiabank boosted their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research note on Friday, November 8th. The Goldman Sachs Group upgraded Cloudflare from a “sell” rating to a “buy” rating and increased their price objective for the company from $77.00 to $140.00 in a research note on Thursday, January 2nd. Finally, Mizuho upped their price target on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus target price of $102.30.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its position in Cloudflare by 212.2% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 868 shares of the company’s stock valued at $72,000 after buying an additional 590 shares during the last quarter. Commonwealth Equity Services LLC raised its holdings in Cloudflare by 18.7% during the second quarter. Commonwealth Equity Services LLC now owns 55,105 shares of the company’s stock worth $4,564,000 after purchasing an additional 8,678 shares in the last quarter. CIBC Asset Management Inc lifted its position in Cloudflare by 9.2% in the second quarter. CIBC Asset Management Inc now owns 10,084 shares of the company’s stock valued at $835,000 after purchasing an additional 847 shares during the period. TD Asset Management Inc increased its position in Cloudflare by 1.4% during the 2nd quarter. TD Asset Management Inc now owns 69,996 shares of the company’s stock worth $5,798,000 after purchasing an additional 939 shares during the period. Finally, National Bank of Canada FI raised its stake in shares of Cloudflare by 10.0% during the 2nd quarter. National Bank of Canada FI now owns 7,031 shares of the company’s stock worth $590,000 after buying an additional 640 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.