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

Key Points

• Michelle Zatlyn sold 25,641 shares of Cloudflare on April 20 at an average price of $199.37 for about $5.11 million, leaving her with 34,514 shares (a 42.62% reduction); the sale was made under a pre-arranged Rule 10b5-1 plan.
• This sale is part of a string of recent insider disposals — multiple 25,641-share transactions and a 35,080-share sale between February and April — representing millions in proceeds and significant insider selling activity.
• For context, Cloudflare shares trade around $207.85 with a market cap near $73.2 billion and a MarketBeat consensus rating of Moderate Buy (average target $232.62); the company recently beat revenue and EPS estimates with revenue up 33.6% year-over-year but remains unprofitable with a negative net margin.

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of Cloudflare stock in a transaction on Monday, April 20th. The stock was sold at an average price of $199.37, for a total value of $5,112,046.17. Following the sale, the insider directly owned 34,514 shares of the company's stock, valued at approximately $6,881,056.18. This trade represents a 42.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 22nd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $209.15, for a total value of $5,362,815.15.
• On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $189.50, for a total value of $4,858,969.50.
• On Tuesday, March 3rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $174.61, for a total value of $4,477,175.01.
• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $172.76, for a total value of $4,429,739.16.
• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $192.66, for a total value of $4,939,995.06.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20.

Cloudflare Trading Up 0.1%

NYSE:NET traded up $0.18 on Wednesday, reaching $207.85. The company's stock had a trading volume of 2,051,675 shares, compared to its average volume of 4,475,614. Cloudflare, Inc. has a 1-year low of $112.12 and a 1-year high of $260.00. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. The firm has a market cap of $73.16 billion, a PE ratio of -716.70 and a beta of 1.87. The business's 50-day moving average price is $198.01 and its two-hundred day moving average price is $200.63.

Cloudflare (NYSE:NET - Get Free Report) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 firm had revenue of $614.51 million during the quarter, compared to analysts' expectations of $591.67 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company's revenue was up 33.6% on a year-over-year basis. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

NET has been the subject of a number of research analyst reports. Royal Bank Of Canada boosted their target price on Cloudflare from $230.00 to $240.00 and gave the company an "outperform" rating in a research note on Wednesday, February 11th. Robert W. Baird set a $260.00 price objective on Cloudflare and gave the stock an "outperform" rating in a research report on Wednesday, February 11th. The Goldman Sachs Group cut Cloudflare from a "buy" rating to a "sell" rating in a research report on Wednesday, April 15th. Guggenheim upped their price objective on Cloudflare from $117.00 to $140.00 and gave the stock a "sell" rating in a research report on Wednesday, February 11th. Finally, Wolfe Research reaffirmed a "peer perform" rating on shares of Cloudflare in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $232.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Physician Wealth Advisors Inc. boosted its position in shares of Cloudflare by 693.3% during the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company's stock worth $26,000 after buying an additional 104 shares during the period. Wiser Advisor Group LLC acquired a new position in Cloudflare during the third quarter valued at approximately $26,000. HM Payson & Co. acquired a new position in Cloudflare during the fourth quarter valued at approximately $25,000. Westside Investment Management Inc. grew its stake in Cloudflare by 100.0% in the third quarter. Westside Investment Management Inc. now owns 130 shares of the company's stock valued at $28,000 after purchasing an additional 65 shares in the last quarter. Finally, ORG Wealth Partners LLC grew its stake in Cloudflare by 101.4% in the third quarter. ORG Wealth Partners LLC now owns 139 shares of the company's stock valued at $30,000 after purchasing an additional 70 shares in the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Cloudflare Company Profile

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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