Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 12,820 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $74.08, for a total transaction of $949,705.60. Following the transaction, the chief operating officer now directly owns 211,394 shares of the company’s stock, valued at $15,660,067.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Michelle Zatlyn also recently made the following trade(s):

• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The stock was sold at an average price of $74.94, for a total transaction of $4,561,073.22.
• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The stock was sold at an average price of $87.07, for a total value of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $89.69, for a total value of $2,299,651.60.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $101.02, for a total value of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $97.96, for a total value of $2,511,694.40.

Cloudflare Stock Performance

Shares of NET stock opened at $75.02 on Thursday. The business’s 50 day simple moving average is $87.40 and its 200 day simple moving average is $85.02. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The stock has a market capitalization of $25.49 billion, a PE ratio of -141.55 and a beta of 1.15. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Institutional Trading of Cloudflare

Several institutional investors have recently added to or reduced their stakes in the stock. Truist Financial Corp lifted its stake in Cloudflare by 1.2% in the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock valued at $2,364,000 after buying an additional 331 shares during the period. Deutsche Bank AG lifted its stake in Cloudflare by 5.1% in the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in Cloudflare in the third quarter valued at approximately $569,000. International Assets Investment Management LLC acquired a new position in Cloudflare in the fourth quarter valued at approximately $11,639,000. Finally, Blueshift Asset Management LLC lifted its stake in Cloudflare by 100.2% in the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after buying an additional 12,974 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of analyst reports. TD Cowen dropped their price target on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. JPMorgan Chase & Co. dropped their price target on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Morgan Stanley boosted their price target on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research note on Monday, February 12th. Mizuho dropped their price target on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $81.00 target price (down previously from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.87.

Cloudflare Company Profile

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.