Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 41,556 Shares

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 41,556 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $156.78, for a total transaction of $6,515,149.68. Following the transaction, the chief financial officer now directly owns 241,550 shares of the company's stock, valued at approximately $37,870,209. This represents a 14.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Cloudflare Trading Up 1.2%

NYSE:NET traded up $2.05 during midday trading on Friday, reaching $166.21. 3,894,099 shares of the stock traded hands, compared to its average volume of 3,136,339. The company has a fifty day moving average of $126.70 and a 200 day moving average of $124.73. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. 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 stock has a market capitalization of $57.61 billion, a P/E ratio of -755.50 and a beta of 1.78.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly 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 4.72% and a negative return on equity of 5.52%. The firm had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. The company's quarterly revenue was up 26.5% compared to the same quarter last year. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have commented on NET. The Goldman Sachs Group cut their price target on shares of Cloudflare from $183.00 to $161.00 and set a "buy" rating for the company in a research note on Friday, March 14th. Oppenheimer boosted their price target on shares of Cloudflare from $150.00 to $165.00 and gave the stock an "outperform" rating in a research note on Friday, May 9th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and boosted their price target for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating for the company in a research note on Thursday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $141.79.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in NET. Mather Group LLC. raised its holdings in Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. bought a new position in Cloudflare in the 1st quarter worth $27,000. GPS Wealth Strategies Group LLC raised its holdings in Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare in the 4th quarter worth about $43,000. 82.68% of the stock is currently owned by institutional investors.

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.