Cloudflare (NYSE:NET) Director Mark Hawkins Sells 133 Shares

Cloudflare, Inc. (NYSE:NET) Director Mark Hawkins sold 133 shares of the company’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $211.62, for a total transaction of $28,145.46. Following the sale, the director owned 10,189 shares in the company, valued at $2,156,196.18. The trade was a 1.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Cloudflare Stock Performance

Shares of NET stock traded up $6.16 during trading on Monday, reaching $223.66. 2,771,949 shares of the company’s stock traded hands, compared to its average volume of 4,518,327. The company has a market capitalization of $78.72 billion, a P/E ratio of -771.21 and a beta of 1.67. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm’s 50-day moving average is $199.89 and its 200 day moving average is $200.05. Cloudflare, Inc. has a 1 year low of $120.46 and a 1 year high of $260.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The company had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. During the same period in the prior year, the company posted $0.19 EPS. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. Equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on NET shares. Guggenheim increased their target price on shares of Cloudflare from $117.00 to $140.00 and gave the stock a “sell” rating in a research note on Wednesday, February 11th. Royal Bank Of Canada increased their target price on shares of Cloudflare from $230.00 to $240.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, February 13th. Mizuho lowered their target price on shares of Cloudflare from $255.00 to $235.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 14th. Finally, Citigroup started coverage on shares of Cloudflare in a research note on Wednesday, April 15th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Cloudflare has an average rating of “Moderate Buy” and a consensus target price of $232.62.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Cloudflare by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock valued at $6,389,167,000 after buying an additional 90,397 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Cloudflare by 4.2% during the 4th quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock valued at $1,184,044,000 after buying an additional 241,981 shares in the last quarter. First Trust Advisors LP raised its position in shares of Cloudflare by 1.6% during the 4th quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock valued at $792,377,000 after buying an additional 63,198 shares in the last quarter. Invesco Ltd. raised its position in shares of Cloudflare by 1.3% during the 3rd quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after buying an additional 49,485 shares in the last quarter. Finally, Norges Bank purchased a new stake in shares of Cloudflare during the 4th quarter valued at $718,316,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.