Cloudflare (NYSE:NET) CFO Thomas Seifert Sells 10,341 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas Seifert sold 10,341 shares of the business’s stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $212.30, for a total transaction of $2,195,394.30. Following the sale, the chief financial officer owned 224,625 shares of the company’s stock, valued at approximately $47,687,887.50. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cloudflare Price Performance

Cloudflare stock opened at $211.83 on Wednesday. The firm has a fifty day moving average of $185.89 and a 200-day moving average of $202.98. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $74.20 billion, a P/E ratio of -730.44 and a beta of 1.98.

Cloudflare (NYSE:NET) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same quarter in the previous year, the business posted $0.19 EPS. The business’s quarterly revenue was up 33.6% on a year-over-year basis. As a group, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on NET shares. Wells Fargo & Company increased their target price on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. New Street Research set a $140.00 price target on Cloudflare in a research report on Wednesday, February 11th. Susquehanna set a $190.00 price target on Cloudflare in a report on Thursday, February 12th. UBS Group reaffirmed a “neutral” rating and issued a $220.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, BTIG Research lifted their price objective on shares of Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Cloudflare currently has an average rating of “Moderate Buy” and a consensus price target of $233.38.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. HM Payson & Co. purchased a new position in Cloudflare in the fourth quarter valued at about $25,000. Physician Wealth Advisors Inc. increased its holdings in Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Cloudflare during the 3rd quarter worth approximately $26,000. Westside Investment Management Inc. raised its position in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in shares of Cloudflare during the 2nd quarter valued at approximately $29,000. Institutional investors and hedge funds 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.