Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $73.97, for a total value of $1,109,550.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares in the company, valued at approximately $25,036,551.93. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Cloudflare Trading Down 0.1 %

Shares of NYSE:NET traded down $0.10 during midday trading on Monday, reaching $74.30. The company’s stock had a trading volume of 6,437,003 shares, compared to its average volume of 3,959,868. The firm has a market cap of $25.09 billion, a price-to-earnings ratio of -141.34 and a beta of 1.15. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. Cloudflare, Inc. has a 1 year low of $44.60 and a 1 year high of $116.00. The business has a 50 day moving average price of $93.67 and a 200 day moving average price of $83.75.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Research analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Cigna Investments Inc. New lifted its stake in shares of Cloudflare by 4.2% during the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares in the last quarter. Yousif Capital Management LLC increased its position in shares of Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after acquiring an additional 132 shares during the last quarter. Quent Capital LLC increased its position in shares of Cloudflare by 8.1% during the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after acquiring an additional 140 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after acquiring an additional 171 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company decreased their target price on Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a research report on Friday. TD Cowen decreased their target price on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research report on Friday. Royal Bank of Canada upped their target price on Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Mizuho decreased their target price on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Finally, Oppenheimer decreased their target price on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $90.13.

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.