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

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the completion of the transaction, the chief financial officer now directly owns 293,582 shares of the company's stock, valued at approximately $35,270,941.48. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Up 1.7 %

Shares of NET stock traded up $2.02 on Thursday, reaching $122.80. 2,580,061 shares of the stock were exchanged, compared to its average volume of 3,891,856. The business's 50 day moving average price is $118.68 and its 200 day moving average price is $115.94. The company has a market capitalization of $42.38 billion, a price-to-earnings ratio of -559.60 and a beta of 1.59. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate 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 expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NET. CWM LLC raised its position in Cloudflare by 2.5% in the 1st quarter. CWM LLC now owns 11,692 shares of the company's stock valued at $1,318,000 after purchasing an additional 283 shares during the last quarter. V2 Financial group LLC acquired a new stake in shares of Cloudflare during the first quarter worth about $622,000. Realta Investment Advisors purchased a new position in shares of Cloudflare during the first quarter worth about $551,000. Ballentine Partners LLC increased its position in Cloudflare by 19.9% in the 1st quarter. Ballentine Partners LLC now owns 4,049 shares of the company's stock valued at $456,000 after acquiring an additional 671 shares during the period. Finally, Diversify Wealth Management LLC increased its position in Cloudflare by 32.8% in the 1st quarter. Diversify Wealth Management LLC now owns 3,382 shares of the company's stock valued at $413,000 after acquiring an additional 835 shares during the period. Hedge funds and other institutional investors own 82.68% of the company's stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of analyst reports. UBS Group reduced their price objective on Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Bank of America raised shares of Cloudflare from an "underperform" rating to a "buy" rating and upped their price objective for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Robert W. Baird reaffirmed a "neutral" rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Scotiabank increased their price target on shares of Cloudflare from $87.00 to $110.00 and gave the company a "sector perform" rating in a research note on Tuesday, January 21st. Finally, Piper Sandler reduced their price target on shares of Cloudflare from $131.00 to $112.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 8th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $134.84.

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.