Michelle Zatlyn Sells 25,641 Shares of Cloudflare (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $172.76, for a total transaction of $4,429,739.16. Following the transaction, the insider owned 34,514 shares in the company, valued at approximately $5,962,638.64. The trade was a 42.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $192.66, for a total transaction of $4,939,995.06.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $190.05, for a total transaction of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $187.96, for a total value of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $208.61, for a total value of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $205.15, for a total value of $5,260,251.15.

Cloudflare Trading Down 9.7%

Shares of NYSE:NET traded down $17.16 during mid-day trading on Monday, reaching $159.98. The stock had a trading volume of 8,514,570 shares, compared to its average volume of 6,731,796. The firm has a 50 day simple moving average of $187.79 and a two-hundred day simple moving average of $203.85. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The firm has a market cap of $56.04 billion, a PE ratio of -551.63 and a beta of 1.97. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The business’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.19 earnings per share. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently made changes to their positions in NET. Empowered Funds LLC grew its stake in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after buying an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Cloudflare in the 2nd quarter valued at about $424,000. Mutual of America Capital Management LLC bought a new position in shares of Cloudflare in the 2nd quarter valued at about $1,068,000. Cullen Frost Bankers Inc. bought a new stake in shares of Cloudflare in the 2nd quarter valued at about $45,000. Finally, 180 Wealth Advisors LLC acquired a new stake in Cloudflare in the 2nd quarter valued at about $315,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on NET. Guggenheim raised their price target on Cloudflare from $117.00 to $140.00 and gave the stock a “sell” rating in a research report on Wednesday, February 11th. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a report on Monday, January 26th. Zacks Research cut shares of Cloudflare from a “hold” rating to a “strong sell” rating in a report on Thursday, February 12th. UBS Group reissued a “neutral” rating and set a $220.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, Citizens Jmp set a $270.00 price objective on shares of Cloudflare in a research report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $230.70.

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.