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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $174.61, for a total value of $4,477,175.01. Following the completion of the sale, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $6,026,489.54. This trade represents a 42.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $189.50, for a total transaction of $4,858,969.50.
• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $172.76, for a total transaction of $4,429,739.16.
• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were 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 stock was 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 transaction 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 transaction 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 0.5%

NET stock traded down $0.94 during midday trading on Friday, hitting $191.37. 337,444 shares of the company’s stock were exchanged, compared to its average volume of 4,945,494. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. The company has a market cap of $67.03 billion, a PE ratio of -659.87 and a beta of 1.98. The stock’s fifty day moving average price is $184.45 and its 200-day moving average price is $202.53.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same quarter last year, the firm posted $0.19 earnings per share. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. Research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on NET shares. Citigroup upped their price target on shares of Cloudflare from $260.00 to $265.00 and gave the company a “buy” rating in a report on Thursday, February 12th. Royal Bank Of Canada boosted their price objective on shares of Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. KeyCorp reaffirmed an “overweight” rating on shares of Cloudflare in a research note on Wednesday, February 11th. Wells Fargo & Company lifted their price target on Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a research note on Wednesday, February 11th. Finally, Scotiabank cut their price target on Cloudflare from $255.00 to $225.00 and set a “sector perform” rating on the stock in a report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $230.70.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the business. Reflection Asset Management acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $86,000. MidFirst Bank acquired a new position in Cloudflare during the fourth quarter valued at approximately $801,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Cloudflare during the fourth quarter valued at approximately $232,000. Sunbelt Securities Inc. grew its stake in Cloudflare by 18.4% in the fourth quarter. Sunbelt Securities Inc. now owns 1,409 shares of the company’s stock valued at $278,000 after purchasing an additional 219 shares in the last quarter. Finally, Corient Private Wealth LLC increased its position in shares of Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after purchasing an additional 1,365,598 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.