Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the transaction, the insider now owns 413,413 shares of the company’s stock, valued at approximately $48,509,881.42. This represents a 5.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $114.89 on Friday. The company has a market capitalization of $39.64 billion, a price-to-earnings ratio of -522.21 and a beta of 1.27. The firm’s 50 day simple moving average is $137.47 and its 200 day simple moving average is $111.56. 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, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and lifted their target price for the company from $60.00 to $160.00 in a research note on Tuesday, March 25th. Baird R W lowered Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised their target price on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. UBS Group reduced their price target on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Finally, Stifel Nicolaus raised their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus price target of $135.64.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare during the 4th quarter valued at about $43,000. Quarry LP lifted its stake in Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Park Square Financial Group LLC acquired a new position in shares of Cloudflare in the fourth quarter valued at approximately $56,000. Larson Financial Group LLC increased its position in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after acquiring an additional 517 shares in the last quarter. Finally, Versant Capital Management Inc raised its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

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.