Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,175,400.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total transaction of $1,175,400.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Down 0.5 %

Shares of NYSE:NET opened at $82.45 on Friday. The company has a market cap of $28.02 billion, a price-to-earnings ratio of -155.57 and a beta of 1.10. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a 50-day moving average price of $79.46 and a 200 day moving average price of $82.42.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. During the same period last year, the company earned ($0.12) EPS. The company’s revenue for the quarter was up 30.0% on a year-over-year basis. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.12 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently made changes to their positions in the company. Riverview Trust Co purchased a new stake in Cloudflare in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Cloudflare during the 2nd quarter worth approximately $29,000. Quarry LP boosted its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Finally, ICA Group Wealth Management LLC bought a new position in Cloudflare in the 4th quarter valued at $38,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a research report on Friday, August 2nd. Robert W. Baird lifted their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. The Goldman Sachs Group reduced their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a research report on Tuesday, June 4th. Piper Sandler lifted their price objective on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Finally, Susquehanna increased their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $92.29.

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.