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 business's stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $198.13, for a total value of $1,981,300.00. Following the transaction, the chief financial officer owned 241,550 shares of the company's stock, valued at $47,858,301.50. The trade was a 3.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 stock was sold at an average price of $200.17, for a total value of $6,859,825.90.

Cloudflare Price Performance

Shares of NET traded up $2.29 during trading hours on Thursday, hitting $191.44. 2,621,742 shares of the company were exchanged, compared to its average volume of 3,717,226. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 0.90. Cloudflare, Inc. has a fifty-two week low of $69.26 and a fifty-two week high of $200.76. The company has a market cap of $66.36 billion, a price-to-earnings ratio of -832.37 and a beta of 1.85. The firm's fifty day moving average is $178.49 and its 200 day moving average is $144.89.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The business had revenue of $479.09 million for the quarter, compared to the consensus estimate of $469.49 million. During the same quarter in the prior year, the company earned $0.16 earnings per share. Cloudflare's quarterly revenue was up 26.5% compared to the same quarter last year. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently bought and sold shares of the company. Aberdeen Group plc raised its position in Cloudflare by 6.2% in the second quarter. Aberdeen Group plc now owns 169,703 shares of the company's stock valued at $33,233,000 after purchasing an additional 9,977 shares during the last quarter. PDS Planning Inc acquired a new stake in shares of Cloudflare in the second quarter valued at about $298,000. Blue Trust Inc. increased its stake in shares of Cloudflare by 388.2% in the second quarter. Blue Trust Inc. now owns 2,802 shares of the company's stock valued at $549,000 after buying an additional 2,228 shares during the period. Moseley Investment Management Inc. acquired a new stake in shares of Cloudflare in the second quarter valued at about $295,000. Finally, IFP Advisors Inc increased its stake in shares of Cloudflare by 32.7% in the second quarter. IFP Advisors Inc now owns 2,049 shares of the company's stock valued at $401,000 after buying an additional 505 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. UBS Group lifted their price objective on Cloudflare from $145.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday. CICC Research upgraded Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price on the stock in a research note on Monday, May 12th. Morgan Stanley restated an "overweight" rating and issued a $225.00 target price (up previously from $150.00) on shares of Cloudflare in a research note on Friday, July 11th. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Finally, DZ Bank lowered Cloudflare from a "strong-buy" rating to a "strong sell" rating and set a $170.00 target price on the stock. in a report on Tuesday. Three equities 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 company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $158.52.

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.