Insider Selling: Cloudflare (NYSE:NET) CFO Sells 10,000 Shares of Stock

Key Points

• Cloudflare CFO Thomas Seifert sold 10,000 shares of the company's stock for a total of $2,276,400, reducing his stake by 5.01%.
• The stock price of Cloudflare increased by 1.0%, closing at $228.21 following the sale, with significant trading volume of 2,635,320 shares.
• Multiple analysts raised their price targets for Cloudflare, with Wells Fargo upgrading it to $250.00, while the consensus average target price stands at $191.28.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction dated Monday, September 22nd. The shares were sold at an average price of $227.64, for a total value of $2,276,400.00. Following the completion of the sale, the chief financial officer owned 189,517 shares of the company's stock, valued at approximately $43,141,649.88. This trade represents a 5.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Thomas J. Seifert also recently made the following trade(s):

• On Monday, July 21st, Thomas J. Seifert sold 34,270 shares of Cloudflare stock. The shares were sold at an average price of $200.17, for a total value of $6,859,825.90.

Cloudflare Stock Down 2.1%

Shares of NET stock traded down $4.73 during trading hours on Tuesday, reaching $223.55. The company had a trading volume of 1,206,579 shares, compared to its average volume of 3,454,159. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. Cloudflare, Inc. has a twelve month low of $77.80 and a twelve month high of $230.10. The company has a market capitalization of $77.90 billion, a P/E ratio of -656.22 and a beta of 1.95. The stock's fifty day simple moving average is $205.56 and its 200 day simple moving average is $165.78.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.18 by $0.03. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%.The business had revenue of $512.32 million during the quarter, compared to analyst estimates of $501.58 million. During the same quarter last year, the firm earned $0.20 earnings per share. The company's revenue for the quarter was up 27.8% compared to the same quarter last year. Cloudflare has set its FY 2025 guidance at 0.850-0.860 EPS. Q3 2025 guidance at 0.230-0.23 EPS. As a group, sell-side analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Hedge funds have recently modified their holdings of the company. Mather Group LLC. increased its position in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after purchasing an additional 202 shares during the period. NBC Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter worth $27,000. GPS Wealth Strategies Group LLC boosted its position in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after buying an additional 175 shares during the period. Twin Peaks Wealth Advisors LLC acquired a new stake in Cloudflare during the second quarter valued at $29,000. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of a number of recent research reports. Piper Sandler increased their target price on Cloudflare from $151.00 to $224.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Bank of America increased their price target on Cloudflare from $235.00 to $240.00 and gave the company a "buy" rating in a report on Friday, August 1st. Robert W. Baird increased their price target on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a report on Friday, July 25th. Oppenheimer reissued an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Finally, Citigroup increased their price target on Cloudflare from $240.00 to $255.00 and gave the company a "buy" rating in a report on Monday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, fifteen have given a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

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.