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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. This represents a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cloudflare Stock Performance

NET opened at $144.14 on Thursday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $144.30. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a 50-day moving average of $116.71 and a two-hundred day moving average of $95.92.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm 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 anticipate that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. The Goldman Sachs Group raised Cloudflare from a “sell” rating to a “buy” rating and increased their price objective for the company from $77.00 to $140.00 in a report on Thursday, January 2nd. Robert W. Baird restated a “neutral” rating and issued a $140.00 price objective (up previously from $125.00) on shares of Cloudflare in a research report on Monday. Piper Sandler upped their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group lifted their price objective on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Finally, Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the company from $95.00 to $136.00 in a research report on Tuesday, December 17th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $112.32.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently made changes to their positions in the business. Quarry LP increased its position in shares of Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in Cloudflare during the 2nd quarter worth approximately $906,000. SG Americas Securities LLC raised its position in shares of Cloudflare by 45.4% in the 3rd quarter. SG Americas Securities LLC now owns 25,940 shares of the company’s stock valued at $2,098,000 after purchasing an additional 8,099 shares in the last quarter. Diversified Trust Co purchased a new position in shares of Cloudflare during the 3rd quarter valued at approximately $471,000. Finally, MBM Wealth Consultants LLC lifted its position in shares of Cloudflare by 7.8% during the third quarter. MBM Wealth Consultants LLC now owns 16,533 shares of the company’s stock worth $1,337,000 after purchasing an additional 1,202 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.