Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 25,641 Shares of Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction on Thursday, July 17th. The stock was sold at an average price of $190.68, for a total transaction of $4,889,225.88. Following the sale, the insider owned 6,390 shares of the company's stock, valued at approximately $1,218,445.20. This represents a 80.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, July 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $182.80, for a total value of $4,687,174.80.
• On Thursday, June 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were 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 shares were sold at an average price of $173.00, for a total value 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 value of $5,504,419.34.

Cloudflare Trading Up 0.7%

Shares of NET traded up $1.42 during midday trading on Thursday, hitting $191.23. The stock had a trading volume of 3,593,584 shares, compared to its average volume of 3,174,541. Cloudflare, Inc. has a fifty-two week low of $69.26 and a fifty-two week high of $198.01. The business has a 50-day simple moving average of $174.58 and a two-hundred day simple moving average of $142.60. The company has a current ratio of 3.20, a quick ratio of 3.20 and a debt-to-equity ratio of 0.90. The firm has a market cap of $66.28 billion, a P/E ratio of -831.44 and a beta of 1.85.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). The business had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative return on equity of 6.31% and a negative net margin of 4.62%. The business's quarterly revenue was up 26.5% on a year-over-year basis. During the same period last year, the business earned $0.16 EPS. As a group, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analyst Ratings Changes

Several research firms have weighed in on NET. Guggenheim upped their target price on Cloudflare from $68.00 to $70.00 and gave the company a "sell" rating in a report on Friday, May 9th. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 price target on the stock in a report on Monday, May 12th. UBS Group raised their price objective on shares of Cloudflare from $135.00 to $145.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a research note on Monday, June 16th. Finally, KeyCorp assumed coverage on Cloudflare in a research report on Friday, June 6th. They set an "overweight" rating and a $210.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Cloudflare presently has an average rating of "Moderate Buy" and a consensus target price of $152.32.

Institutional Investors Weigh In On Cloudflare

Large investors have recently modified their holdings of the stock. Mather Group LLC. increased its holdings in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after buying an additional 202 shares in the last quarter. NBC Securities Inc. bought a new stake in Cloudflare during the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC increased its holdings in Cloudflare by 213.4% during the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Cloudflare by 115.4% in the 1st 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. Finally, Gordian Capital Singapore Pte Ltd acquired a new position in Cloudflare in the fourth quarter worth $43,000. 82.68% of the stock is currently owned by 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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