Cloudflare, Inc. (NYSE:NET) Insider Michelle Zatlyn Sells 25,641 Shares

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the business's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $182.80, for a total transaction of $4,687,174.80. Following the completion of the sale, the insider directly owned 6,390 shares of the company's stock, valued at $1,168,092. This represents a 80.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, July 17th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.68, for a total transaction of $4,889,225.88.
• On Thursday, June 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $171.41, for a total transaction of $4,395,123.81.
• On Wednesday, June 4th, Michelle Zatlyn sold 25,642 shares of Cloudflare stock. The stock was sold at an average price of $173.00, for a total transaction of $4,436,066.00.
• On Wednesday, May 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.72, for a total transaction of $4,018,300.80.
• On Tuesday, May 20th, Michelle Zatlyn sold 35,098 shares of Cloudflare stock. The stock was sold at an average price of $156.83, for a total transaction of $5,504,419.34.

Cloudflare Trading Up 0.7%

Cloudflare stock traded up $1.42 during mid-day trading on Thursday, reaching $191.23. 3,593,584 shares of the company traded hands, compared to its average volume of 3,174,541. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $198.01. The firm has a market capitalization of $66.28 billion, a price-to-earnings ratio of -831.44 and a beta of 1.85. The company has a debt-to-equity ratio of 0.90, a current ratio of 3.20 and a quick ratio of 3.20. The firm's 50 day moving average price is $174.58 and its 200 day moving average price is $142.60.

Cloudflare (NYSE:NET - Get Free Report) last announced 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). The business had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. Cloudflare had a negative net margin of 4.62% and a negative return on equity of 6.31%. The business's quarterly revenue was up 26.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.16 EPS. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have recently commented on NET. Needham & Company LLC upped their price objective on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, May 9th. Jefferies Financial Group reduced their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a research note on Friday, May 9th. Susquehanna cut their target price on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a research note on Monday, May 12th. KeyCorp assumed coverage on shares of Cloudflare in a report on Friday, June 6th. They set an "overweight" rating and a $210.00 price objective on the stock. Finally, Bank of America upgraded shares of Cloudflare from an "underperform" rating to a "buy" rating and upped their price objective for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $152.32.

Institutional Investors Weigh In On Cloudflare

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

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.

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