Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 35,118 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 35,118 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40. Following the transaction, the chief operating officer now owns 172,959 shares in the company, valued at approximately $18,212,582.70. This represents a 16.88 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $76.14, for a total transaction of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.13, for a total transaction of $988,806.60.

Cloudflare Price Performance

NET traded down $2.85 on Wednesday, reaching $99.38. 2,339,829 shares of the company’s stock were exchanged, compared to its average volume of 3,178,518. The stock has a market cap of $34.11 billion, a PE ratio of -381.65 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00. The stock’s fifty day moving average price is $89.15 and its 200-day moving average price is $81.98. 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 posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The firm had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on NET shares. Mizuho raised their target price on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. UBS Group raised their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Finally, Scotiabank raised their price target on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $92.88.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently bought and sold shares of the business. Advisors Asset Management Inc. raised its stake in Cloudflare by 15.6% during the first quarter. Advisors Asset Management Inc. now owns 1,761 shares of the company’s stock worth $171,000 after purchasing an additional 237 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Cloudflare by 20.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock valued at $84,745,000 after acquiring an additional 149,866 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in shares of Cloudflare by 26.6% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 3,936 shares of the company’s stock valued at $381,000 after acquiring an additional 828 shares during the period. California State Teachers Retirement System raised its stake in shares of Cloudflare by 4.8% in the 1st quarter. California State Teachers Retirement System now owns 447,813 shares of the company’s stock valued at $43,362,000 after acquiring an additional 20,533 shares during the period. Finally, Comerica Bank raised its stake in shares of Cloudflare by 19.9% in the 1st quarter. Comerica Bank now owns 28,556 shares of the company’s stock valued at $2,765,000 after acquiring an additional 4,733 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.