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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $109.90, for a total transaction of $1,648,500.00. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $27,790,303.10. This represents a 5.60 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Cloudflare Stock Down 0.2 %

NET stock opened at $110.46 on Friday. The stock’s 50 day simple moving average is $92.13 and its 200 day simple moving average is $83.33. The company has a market cap of $37.91 billion, a P/E ratio of -424.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $116.00.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $430.08 million for the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, research analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the subject of several research reports. Mizuho increased their price objective on Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Wells Fargo & Company increased their price target on shares of Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $92.00 to $130.00 in a report on Monday. Piper Sandler upped their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank lifted their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $94.40.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the stock. Tidal Investments LLC grew its position in Cloudflare by 18.0% in the 3rd quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock worth $1,880,000 after purchasing an additional 3,550 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Cloudflare during the third quarter valued at approximately $204,000. Sanctuary Advisors LLC raised its holdings in Cloudflare by 37.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock worth $1,143,000 after purchasing an additional 3,835 shares during the period. Virtu Financial LLC bought a new position in shares of Cloudflare in the third quarter worth about $1,268,000. Finally, Advisory Resource Group lifted its position in shares of Cloudflare by 1.6% during the 3rd quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.