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

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $171.41, for a total transaction of $4,395,123.81. Following the sale, the insider now directly owns 6,390 shares in the company, valued at $1,095,309.90. This trade represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 transaction of $4,436,066.00.
• On Wednesday, May 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were 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 transaction of $5,504,419.34.
• On Thursday, April 17th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $109.03, for a total transaction of $2,795,529.20.
• On Tuesday, April 15th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $107.29, for a total transaction of $2,750,915.60.
• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $117.34, for a total transaction of $3,008,597.60.
• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $130.85, for a total transaction of $3,354,994.00.

Cloudflare Stock Up 1.9%

Shares of NYSE NET traded up $3.37 during mid-day trading on Friday, reaching $179.70. 2,771,374 shares of the company's stock traded hands, compared to its average volume of 3,132,207. The stock has a market cap of $62.29 billion, a P/E ratio of -816.82 and a beta of 1.78. The business has a 50-day simple moving average of $131.14 and a 200 day simple moving average of $126.74. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $181.64. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). The business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. The firm's quarterly revenue was up 26.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. On average, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Mather Group LLC. boosted its holdings in 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 purchasing an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new position in Cloudflare during the first quarter worth about $27,000. GPS Wealth Strategies Group LLC boosted its holdings in Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock worth $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its holdings in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare during the fourth quarter worth about $43,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NET shares. Cantor Fitzgerald lifted their target price on shares of Cloudflare from $111.00 to $149.00 and gave the stock a "neutral" rating in a research note on Friday, February 7th. CICC Research raised shares of Cloudflare from a "market perform" rating to an "outperform" rating and set a $154.00 target price for the company in a research note on Monday, May 12th. Morgan Stanley lifted their target price on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a research note on Friday, May 9th. Susquehanna lowered their target price on shares of Cloudflare from $170.00 to $140.00 and set a "neutral" rating for the company in a research note on Monday, May 12th. Finally, Stifel Nicolaus lifted their target price on shares of Cloudflare from $136.00 to $175.00 and gave the stock a "buy" rating in a research note on Friday, February 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $145.92.

Cloudflare Company Profile

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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