Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Thursday, June 20th. The stock was sold at an average price of $78.47, for a total transaction of $1,177,050.00. Following the transaction, the chief financial officer now owns 309,937 shares in the company, valued at $24,320,756.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Trading Down 1.7 %

Shares of NET stock opened at $79.28 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $26.94 billion, a P/E ratio of -149.58 and a beta of 1.08. The company has a 50 day moving average price of $77.01 and a 200 day moving average price of $85.35. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to analysts’ expectations of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Equities research analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in NET. Envestnet Portfolio Solutions Inc. acquired a new position in Cloudflare during the 3rd quarter worth approximately $569,000. LPL Financial LLC grew its holdings in Cloudflare by 5.3% during the 3rd quarter. LPL Financial LLC now owns 114,510 shares of the company’s stock worth $7,219,000 after acquiring an additional 5,806 shares in the last quarter. Mariner LLC grew its holdings in Cloudflare by 3.2% during the 3rd quarter. Mariner LLC now owns 85,444 shares of the company’s stock worth $5,387,000 after acquiring an additional 2,652 shares in the last quarter. Northern Trust Corp grew its holdings in Cloudflare by 3.1% during the 3rd quarter. Northern Trust Corp now owns 1,733,639 shares of the company’s stock worth $109,289,000 after acquiring an additional 51,345 shares in the last quarter. Finally, Profund Advisors LLC grew its holdings in Cloudflare by 1.2% during the 3rd quarter. Profund Advisors LLC now owns 21,982 shares of the company’s stock worth $1,386,000 after acquiring an additional 251 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the topic of a number of recent research reports. Piper Sandler restated a “neutral” rating and set a $81.00 price target (down from $110.00) on shares of Cloudflare in a research report on Friday, May 3rd. Guggenheim reaffirmed a “sell” rating and set a $50.00 target price on shares of Cloudflare in a research note on Tuesday. Robert W. Baird reduced their target price on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a research note on Friday, May 3rd. JPMorgan Chase & Co. reduced their target price on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research note on Friday, May 3rd. Finally, UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $82.00 in a research note on Tuesday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $90.96.

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.