Cloudflare, Inc. (NYSE:NET) Director Sells $104,576.00 in Stock

Cloudflare, Inc. (NYSE:NET) Director Katrin Suder sold 608 shares of Cloudflare stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $172.00, for a total transaction of $104,576.00. Following the completion of the sale, the director now owns 41,785 shares of the company’s stock, valued at approximately $7,187,020. This trade represents a 1.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Cloudflare Stock Performance

NET stock traded down $1.72 on Monday, reaching $177.95. The company’s stock had a trading volume of 2,634,261 shares, compared to its average volume of 3,133,499. Cloudflare, Inc. has a 52 week low of $69.26 and a 52 week high of $181.81. The company has a market capitalization of $61.68 billion, a P/E ratio of -808.86 and a beta of 1.84. The firm has a fifty day moving average of $132.42 and a two-hundred day moving average of $127.69. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Cloudflare’s revenue for the quarter was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.16 earnings per share. As a group, analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in NET. Mather Group LLC. raised its holdings in Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. acquired a new position in shares of Cloudflare during the 1st quarter valued at $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 142 shares during the period. Finally, Gordian Capital Singapore Pte Ltd bought a new position in Cloudflare during the fourth quarter valued at about $43,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group raised their price objective on shares of Cloudflare from $135.00 to $145.00 and gave the stock a “neutral” rating in a report on Friday, May 9th. The Goldman Sachs Group reduced their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, March 14th. Piper Sandler reissued a “neutral” rating and issued a $151.00 price objective (up from $112.00) on shares of Cloudflare in a report on Friday, May 9th. Guggenheim increased their target price on Cloudflare from $68.00 to $70.00 and gave the stock a “sell” rating in a report on Friday, May 9th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a research report on Thursday. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has an average rating of “Hold” and an average target price of $145.92.

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.