Cloudflare (NYSE:NET) Director Sells $27,876.80 in Stock

Cloudflare, Inc. (NYSE:NET) Director Mark Hawkins sold 133 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $209.60, for a total transaction of $27,876.80. Following the sale, the director directly owned 10,322 shares of the company’s stock, valued at approximately $2,163,491.20. The trade was a 1.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cloudflare Price Performance

Shares of NYSE:NET traded up $5.87 during trading on Thursday, reaching $211.30. The stock had a trading volume of 2,100,191 shares, compared to its average volume of 4,588,252. The stock has a market capitalization of $74.37 billion, a PE ratio of -728.58 and a beta of 1.98. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The business’s 50-day moving average price is $191.86 and its 200 day moving average price is $202.83.

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 business had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same period in the prior year, the company earned $0.19 EPS. Cloudflare’s revenue for the quarter was up 33.6% on a year-over-year basis. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently issued reports on NET shares. New Street Research set a $140.00 price target on shares of Cloudflare in a research report on Wednesday, February 11th. Susquehanna set a $190.00 price target on shares of Cloudflare in a research note on Thursday, February 12th. Needham & Company LLC lowered their price target on shares of Cloudflare from $285.00 to $250.00 and set a “buy” rating for the company in a report on Wednesday, February 11th. Zacks Research upgraded shares of Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Finally, Guggenheim increased their price objective on Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a research report on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $233.38.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of NET. Purpose Unlimited Inc. bought a new stake in shares of Cloudflare during the fourth quarter worth approximately $721,000. Stance Capital LLC boosted its stake in Cloudflare by 10.7% in the fourth quarter. Stance Capital LLC now owns 6,721 shares of the company’s stock valued at $1,325,000 after acquiring an additional 650 shares during the last quarter. Osbon Capital Management LLC acquired a new stake in Cloudflare during the 4th quarter worth $2,456,000. Fund Advisors of America Inc FL acquired a new stake in Cloudflare during the 4th quarter worth $1,900,000. Finally, Spear Advisors LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at $5,844,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

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.