Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells $3,087,056.00 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction dated Wednesday, January 22nd. The stock was sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $20,824,263.60. This trade represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40.

Cloudflare Stock Performance

NYSE:NET opened at $125.19 on Monday. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $125.71. The company has a fifty day moving average of $110.70 and a 200-day moving average of $92.86. The firm has a market capitalization of $42.96 billion, a P/E ratio of -481.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. As a group, sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on NET shares. UBS Group boosted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upped their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Piper Sandler raised their price target on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, Wells Fargo & Company increased their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the company an “overweight” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $108.32.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in the company. WIM INVESTMENT MANAGEMENT Ltd bought a new position in shares of Cloudflare in the 3rd quarter worth $25,588,000. International Assets Investment Management LLC acquired a new position in shares of Cloudflare during the third quarter valued at about $147,160,000. Parnassus Investments LLC increased its position in shares of Cloudflare by 1,851.9% during the third quarter. Parnassus Investments LLC now owns 138,410 shares of the company’s stock worth $11,196,000 after acquiring an additional 131,319 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Cloudflare by 2.6% in the 3rd quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock worth $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Cloudflare by 70.5% in the 3rd quarter. Los Angeles Capital Management LLC now owns 280,826 shares of the company’s stock valued at $22,716,000 after acquiring an additional 116,130 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.