Thomas J. Seifert Sells 10,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Friday, June 20th. The shares were sold at an average price of $180.76, for a total value of $1,807,600.00. Following the sale, the chief financial officer now owns 241,550 shares of the company's stock, valued at approximately $43,662,578. This represents a 3.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cloudflare Stock Performance

NET traded up $2.76 during midday trading on Tuesday, hitting $186.63. 2,026,386 shares of the company were exchanged, compared to its average volume of 3,138,517. The company's 50 day simple moving average is $150.04 and its 200 day simple moving average is $133.74. The firm has a market capitalization of $64.69 billion, a price-to-earnings ratio of -811.45 and a beta of 1.84. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $187.84.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the business earned $0.16 earnings per share. Cloudflare's revenue was up 26.5% on a year-over-year basis. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and increased their price objective for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Royal Bank Of Canada reduced their target price on Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Guggenheim raised their target price on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a research note on Friday, May 9th. Cowen restated a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $145.92.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently modified their holdings of the business. Capital World Investors lifted its stake in Cloudflare by 0.7% in the 4th quarter. Capital World Investors now owns 35,409,307 shares of the company's stock valued at $3,812,942,000 after buying an additional 260,415 shares in the last quarter. Vanguard Group Inc. lifted its stake in Cloudflare by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 30,836,909 shares of the company's stock valued at $3,475,011,000 after buying an additional 538,850 shares in the last quarter. Geode Capital Management LLC lifted its stake in Cloudflare by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 4,903,219 shares of the company's stock valued at $526,986,000 after buying an additional 68,661 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Cloudflare by 33.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,129,030 shares of the company's stock valued at $352,610,000 after buying an additional 786,063 shares in the last quarter. Finally, American Century Companies Inc. lifted its stake in Cloudflare by 34.5% in the 1st quarter. American Century Companies Inc. now owns 3,037,420 shares of the company's stock valued at $342,287,000 after buying an additional 779,819 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

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.