Cloudflare, Inc. (NYSE:NET) CAO Janel Riley Sells 4,327 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 4,327 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the transaction, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at approximately $12,519,384.80. The trade was a 5.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cloudflare Stock Performance

NYSE NET opened at $160.48 on Thursday. The stock has a market cap of $55.07 billion, a PE ratio of -729.45 and a beta of 1.12. 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, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The stock has a fifty day simple moving average of $128.51 and a 200-day simple moving average of $102.19.

Cloudflare (NYSE:NET) last announced 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 net margin of 4.72% and a negative return on equity of 5.52%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on NET. Susquehanna upped their target price on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research note on Monday, February 10th. Wells Fargo & Company upped their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Jefferies Financial Group increased their price objective on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Oppenheimer downgraded Cloudflare from an “outperform” rating to a “market perform” rating in a research note on Friday, February 7th. Finally, Morgan Stanley increased their price objective on Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and an average price target of $136.28.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its holdings in Cloudflare by 0.7% during the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company’s stock valued at $3,812,942,000 after acquiring an additional 260,415 shares during the period. Geode Capital Management LLC boosted its holdings in Cloudflare by 1.4% during the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company’s stock valued at $526,986,000 after acquiring an additional 68,661 shares during the period. Groupama Asset Managment purchased a new position in Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank purchased a new position in Cloudflare during the 4th quarter valued at about $249,544,000. Finally, American Century Companies Inc. boosted its stake in shares of Cloudflare by 82.0% in the 4th quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after buying an additional 1,017,399 shares during the period. 82.68% of the stock is currently 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.