Michelle Zatlyn Sells 25,642 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,642 shares of the company's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $173.00, for a total transaction of $4,436,066.00. Following the completion of the transaction, the insider now owns 6,390 shares in the company, valued at approximately $1,105,470. This trade represents a 80.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• 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, 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 transaction of $5,504,419.34.
• On Thursday, April 17th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was 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 stock was 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 Trading Up 1.9%

Shares of Cloudflare stock traded up $3.37 during trading on Friday, hitting $179.70. The stock had a trading volume of 2,771,374 shares, compared to its average volume of 3,132,207. The stock has a 50 day simple moving average of $131.14 and a 200 day simple moving average of $126.74. The company has a market capitalization of $62.29 billion, a PE ratio of -816.82 and a beta of 1.78. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $181.64.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results 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 5.52% and a negative net margin of 4.72%. The firm had revenue of $479.09 million during the quarter, compared to analysts' expectations of $469.49 million. During the same period last year, the business earned $0.16 earnings per share. The business's revenue was up 26.5% on a year-over-year basis. On average, research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Trading of Cloudflare

Several large investors have recently added to or reduced their stakes in the business. CreativeOne Wealth LLC grew its position in Cloudflare by 0.8% in the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company's stock worth $752,000 after acquiring an additional 58 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in Cloudflare by 1.2% in the fourth quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company's stock worth $709,000 after acquiring an additional 77 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in shares of Cloudflare by 6.2% in the first quarter. Smartleaf Asset Management LLC now owns 1,320 shares of the company's stock worth $152,000 after buying an additional 77 shares during the last quarter. Gill Capital Partners LLC lifted its stake in shares of Cloudflare by 2.9% in the first quarter. Gill Capital Partners LLC now owns 2,761 shares of the company's stock worth $311,000 after buying an additional 79 shares during the last quarter. Finally, Spire Wealth Management lifted its stake in shares of Cloudflare by 11.0% in the first quarter. Spire Wealth Management now owns 962 shares of the company's stock worth $108,000 after buying an additional 95 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on NET. Needham & Company LLC raised their price target on shares of Cloudflare from $145.00 to $160.00 and gave the company a "buy" rating in a report on Friday, May 9th. Stifel Nicolaus raised their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a "buy" rating in a report on Friday, February 7th. Royal Bank of Canada cut their price target on shares of Cloudflare from $170.00 to $148.00 and set an "outperform" rating on the stock in a report on Thursday, March 13th. Jefferies Financial Group cut their price target on shares of Cloudflare from $170.00 to $150.00 and set a "hold" rating on the stock in a report on Friday, May 9th. Finally, Oppenheimer restated an "outperform" rating and issued a $200.00 price target (up previously from $165.00) on shares of Cloudflare in a report on Thursday. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus 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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