Insider Selling: Cloudflare (NYSE:NET) Director Sells $23,609.46 in Stock

Cloudflare, Inc. (NYSE:NET) Director Mark Hawkins sold 134 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $176.19, for a total transaction of $23,609.46. Following the sale, the director directly owned 10,588 shares in the company, valued at $1,865,499.72. The trade was a 1.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Cloudflare Price Performance

Shares of NYSE NET opened at $163.04 on Friday. The company has a 50 day simple moving average of $192.45 and a two-hundred day simple moving average of $205.24. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The company has a market capitalization of $57.11 billion, a price-to-earnings ratio of -543.48, a P/E/G ratio of 144.65 and a beta of 1.97. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on NET. Citizens Jmp increased their target price on Cloudflare from $250.00 to $270.00 and gave the stock a “market outperform” rating in a research note on Friday, October 31st. Wall Street Zen raised shares of Cloudflare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Barclays started coverage on shares of Cloudflare in a research note on Tuesday, December 2nd. They set an “overweight” rating and a $235.00 price objective for the company. Stifel Nicolaus increased their price target on shares of Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a report on Friday, October 31st. Finally, DZ Bank raised shares of Cloudflare from a “sell” rating to a “hold” rating and set a $237.00 price target for the company in a research report on Wednesday, November 5th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of “Moderate Buy” and an average price target of $229.86.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Physician Wealth Advisors Inc. raised its stake in Cloudflare by 693.3% during the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares during the last quarter. Wiser Advisor Group LLC purchased a new stake in Cloudflare during the third quarter valued at $26,000. Westside Investment Management Inc. lifted its holdings in Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after acquiring an additional 65 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in Cloudflare in the second quarter valued at about $29,000. Finally, ORG Wealth Partners LLC boosted its position in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.