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

Key Points

• Michelle Zatlyn, Cloudflare's insider, sold a significant total of 25,641 shares on August 22 at an average price of $193.23, resulting in a sale worth approximately $4.95 million, decreasing their ownership by 63.76%.
• Cloudflare's stock experienced a 0.2% drop to $195.85, with a trading volume of over 1.24 million shares, indicating a shift but maintaining a strong market presence compared to previous highs.
• In its last earnings report, Cloudflare beat revenue forecasts with $512.32 million, up by 27.8% year-over-year, while adjusting its FY 2025 EPS guidance to 0.850-0.860.

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the firm's stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $193.23, for a total value of $4,954,610.43. Following the completion of the transaction, the insider owned 14,575 shares of the company's stock, valued at approximately $2,816,327.25. This represents a 63.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, August 25th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $195.61, for a total value of $5,015,636.01.
• On Thursday, August 21st, Michelle Zatlyn sold 35,100 shares of Cloudflare stock. The stock was sold at an average price of $191.71, for a total value of $6,729,021.00.
• On Thursday, July 17th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $190.68, for a total transaction of $4,889,225.88.
• On Tuesday, July 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were 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 stock was 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 stock was sold at an average price of $173.00, for a total transaction of $4,436,066.00.

Cloudflare Stock Up 3.9%

Cloudflare stock traded up $8.02 on Thursday, hitting $213.26. 2,730,984 shares of the stock traded hands, compared to its average volume of 3,577,831. Cloudflare, Inc. has a 1 year low of $74.88 and a 1 year high of $219.00. The firm has a market cap of $74.32 billion, a P/E ratio of -627.24 and a beta of 1.84. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The business's fifty day simple moving average is $194.93 and its 200 day simple moving average is $157.75.

Cloudflare (NYSE:NET - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for the quarter, compared to the consensus estimate of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare's revenue for the quarter was up 27.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.20 EPS. 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 forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Jefferies Financial Group lowered their price objective on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating for the company in a research report on Friday, May 9th. Cowen reaffirmed a "buy" rating on shares of Cloudflare in a report on Monday, June 16th. Robert W. Baird boosted their target price on Cloudflare from $148.00 to $175.00 and gave the company a "neutral" rating in a research report on Friday, July 25th. Cantor Fitzgerald increased their price target on Cloudflare from $162.00 to $199.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, Guggenheim lifted their price objective on shares of Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a research note on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, nine have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $191.28.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of the business. Daymark Wealth Partners LLC increased its holdings in Cloudflare by 1.1% in the 2nd quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company's stock worth $892,000 after buying an additional 51 shares during the period. Huntington National Bank lifted its position in Cloudflare by 22.8% during the second quarter. Huntington National Bank now owns 280 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the period. ORG Partners LLC boosted its holdings in Cloudflare by 11.9% in the second quarter. ORG Partners LLC now owns 498 shares of the company's stock valued at $92,000 after purchasing an additional 53 shares during the last quarter. Fiduciary Planning LLC grew its position in Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company's stock worth $363,000 after purchasing an additional 54 shares during the period. Finally, Ossiam raised its stake in shares of Cloudflare by 2.0% during the 2nd quarter. Ossiam now owns 3,343 shares of the company's stock valued at $655,000 after buying an additional 64 shares during the last quarter. 82.68% of the stock is owned by hedge funds and other 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.