Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells $3,008,597.60 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at $48,509,881.42. This represents a 5.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $130.85, for a total transaction of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total transaction of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16.
• 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 value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00.

Cloudflare Trading Down 3.1 %

Cloudflare stock opened at $114.89 on Friday. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The firm has a market capitalization of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27. The business’s 50-day simple moving average is $137.47 and its 200-day simple moving average is $111.56.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Trading of Cloudflare

A number of hedge funds have recently bought and sold shares of NET. Avant Financial Advisors LLC bought a new position in shares of Cloudflare during the 4th quarter worth about $258,000. Wellington Management Group LLP grew its position in Cloudflare by 47.0% during the fourth quarter. Wellington Management Group LLP now owns 5,930 shares of the company’s stock worth $639,000 after buying an additional 1,896 shares in the last quarter. Thoma Capital Management LLC bought a new position in Cloudflare during the fourth quarter valued at about $720,000. Wealth Enhancement Advisory Services LLC raised its holdings in Cloudflare by 22.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company’s stock valued at $3,301,000 after acquiring an additional 5,638 shares in the last quarter. Finally, Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $10,499,000. 82.68% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on NET. Royal Bank of Canada reduced their price target on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating for the company in a research report on Thursday, March 13th. Jefferies Financial Group lifted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Needham & Company LLC dropped their price target on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Piper Sandler cut their price objective on Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Robert W. Baird restated a “neutral” rating and issued a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus price target of $135.64.

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.