Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $27,790,303.10. This represents a 5.60 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Down 0.2 %

Shares of NYSE NET opened at $110.46 on Friday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The firm has a market capitalization of $37.91 billion, a price-to-earnings ratio of -424.85 and a beta of 1.10. The stock has a 50 day moving average price of $92.13 and a 200 day moving average price of $83.33. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, meeting the consensus estimate of ($0.03). The business had revenue of $430.08 million during 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 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NET. BNP Paribas initiated coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target on the stock. Scotiabank boosted their target price on Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Wells Fargo & Company raised their price target on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Mizuho upped their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Morgan Stanley raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $92.00 to $130.00 in a report on Monday. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $94.40.

Institutional Trading of Cloudflare

Several hedge funds have recently modified their holdings of the company. CVA Family Office LLC boosted its position in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares in the last quarter. Quarry LP raised its stake in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Cloudflare in the third quarter worth about $38,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter valued at about $54,000. Finally, Blue Trust Inc. raised its position in shares of Cloudflare by 37,600.0% in the 2nd quarter. Blue Trust Inc. now owns 754 shares of the company’s stock valued at $62,000 after purchasing an additional 752 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Company Profile

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.