Cloudflare, Inc. (NYSE:NET) COO Sells $2,901,422.40 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40. Following the transaction, the chief operating officer now directly owns 172,959 shares of the company’s stock, valued at approximately $19,572,040.44. The trade was a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were sold at an average price of $105.30, for a total transaction of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total value 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 value of $5,230,560.00.

Cloudflare Trading Down 1.1 %

Shares of NET stock opened at $113.58 on Friday. The company has a 50-day moving average of $96.10 and a two-hundred day moving average of $84.95. The firm has a market cap of $38.98 billion, a PE ratio of -436.85 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. 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 data 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 during the quarter, compared to analysts’ expectations of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of the company. Baillie Gifford & Co. grew its position in Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Marshall Wace LLP boosted its stake in shares of Cloudflare by 123.4% in the second quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare in the third quarter valued at approximately $25,588,000. American Century Companies Inc. increased its stake in Cloudflare by 24.8% during the 2nd quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock worth $115,526,000 after buying an additional 277,228 shares during the period. Finally, Glynn Capital Management LLC acquired a new stake in Cloudflare during the 2nd quarter worth approximately $16,765,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms recently commented on NET. Scotiabank increased their price objective on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Piper Sandler increased their target price on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Morgan Stanley upgraded shares of Cloudflare from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $92.00 to $130.00 in a research report on Monday, December 2nd. UBS Group increased their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Mizuho boosted their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $95.20.

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.