Cloudflare (NYSE:NET) Director Sells 133 Shares

Key Points

• Director sale: Director Mark Hawkins sold 133 shares at an average price of $209.60 for $27,876.80 on April 1, reducing his stake by 1.27% to 10,322 shares; the trade was executed under a pre-arranged Rule 10b5-1 plan and disclosed to the SEC.
• Earnings and stock snapshot: Cloudflare beat EPS estimates ($0.28 vs. $0.27) and reported revenue of $614.51M, up 33.6% year‑over‑year, while the stock traded around $211.30 and the company shows a negative P/E (-728.58).
• Analyst sentiment and ownership: Analysts rate Cloudflare a "Moderate Buy" with an average target price of $233.38, and institutional investors own about 82.7% of the stock.

Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Mark Hawkins sold 133 shares of Cloudflare stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $209.60, for a total value of $27,876.80. Following the completion of the transaction, the director owned 10,322 shares in the company, valued at $2,163,491.20. The trade was a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cloudflare Stock Performance

NYSE:NET traded up $5.87 during mid-day trading on Thursday, hitting $211.30. 2,100,191 shares of the company's stock traded hands, compared to its average volume of 4,588,252. The firm has a market capitalization of $74.37 billion, a price-to-earnings ratio of -728.58 and a beta of 1.98. The firm has a 50 day moving average of $191.86 and a two-hundred day moving average of $202.83. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same period in the previous year, the business posted $0.19 EPS. The company's revenue for the quarter was up 33.6% on a year-over-year basis. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Truist Financial set a $225.00 price target on shares of Cloudflare in a research report on Tuesday, January 20th. TD Cowen reiterated a "buy" rating on shares of Cloudflare in a research report on Tuesday, January 27th. Scotiabank decreased their price objective on Cloudflare from $255.00 to $225.00 and set a "sector perform" rating on the stock in a report on Wednesday, February 11th. Piper Sandler boosted their price objective on Cloudflare from $220.00 to $222.00 and gave the company a "neutral" rating in a research report on Wednesday, February 11th. Finally, Needham & Company LLC reduced their target price on Cloudflare from $285.00 to $250.00 and set a "buy" rating for the company in a research report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $233.38.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of the stock. Purpose Unlimited Inc. acquired a new position in Cloudflare during the fourth quarter worth $721,000. Stance Capital LLC boosted its stake in shares of Cloudflare by 10.7% in the 4th quarter. Stance Capital LLC now owns 6,721 shares of the company's stock valued at $1,325,000 after purchasing an additional 650 shares in the last quarter. Osbon Capital Management LLC acquired a new stake in shares of Cloudflare in the 4th quarter valued at $2,456,000. Fund Advisors of America Inc FL acquired a new stake in shares of Cloudflare in the 4th quarter valued at $1,900,000. Finally, Spear Advisors LLC acquired a new stake in shares of Cloudflare during the 4th quarter worth about $5,844,000. 82.68% of the stock is owned by institutional investors and hedge funds.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

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