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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $34,549,491.47. The trade was a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cloudflare Stock Performance

Shares of NET opened at $141.25 on Friday. The stock has a 50-day moving average of $116.71 and a two-hundred day moving average of $95.92. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a market cap of $48.47 billion, a P/E ratio of -543.25 and a beta of 1.12. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $144.30.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada raised their price objective on Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Morgan Stanley lifted their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Scotiabank increased their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Needham & Company LLC lifted their price target on shares of Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Piper Sandler boosted 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. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare has an average rating of “Hold” and an average price target of $112.32.

Institutional Trading of Cloudflare

Large investors have recently made changes to their positions in the business. CVA Family Office LLC raised its holdings in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP raised its stake in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Cloudflare in the 3rd quarter valued at about $38,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the third quarter worth about $54,000. Finally, Versant Capital Management Inc grew its holdings in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.

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.