Thomas Seifert Sells 10,000 Shares of Cloudflare (NYSE:NET) Stock

Key Points

• Cloudflare CFO Thomas Seifert sold 10,000 shares at an average price of $307.32, generating $3.07 million. The sale was conducted under a pre-arranged Rule 10b5-1 trading plan and reduced his direct ownership by 8.27% to 110,846 shares.
• NET shares traded down to $292.03, while Cloudflare reported quarterly revenue of $696.06 million, up 35.9% year over year, and adjusted EPS of $0.29, exceeding analyst expectations.
• Analysts maintain a generally positive view, with a “Moderate Buy” consensus and an average price target of $320.19; institutional investors and hedge funds own 82.68% of the company.

Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $307.32, for a total transaction of $3,073,200.00. Following the transaction, the chief financial officer directly owned 110,846 shares of the company's stock, valued at approximately $34,065,192.72. This trade represents a 8.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cloudflare Price Performance

NET stock traded down $9.33 during mid-day trading on Wednesday, reaching $292.03. 3,092,386 shares of the company's stock were exchanged, compared to its average volume of 4,333,878. The company has a market cap of $103.22 billion, a price-to-earnings ratio of -503.50, a price-to-earnings-growth ratio of 230.77 and a beta of 1.65. Cloudflare, Inc. has a 12-month low of $158.83 and a 12-month high of $332.22. The stock's 50 day moving average is $264.47 and its 200 day moving average is $225.49. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.82 and a quick ratio of 1.82.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.27 by $0.02. Cloudflare had a negative return on equity of 3.88% and a negative net margin of 8.21%.The company had revenue of $696.06 million during the quarter, compared to analyst estimates of $664.66 million. During the same period in the previous year, the business earned $0.21 EPS. Cloudflare's quarterly revenue was up 35.9% on a year-over-year basis. Cloudflare has set its Q3 2026 guidance at 0.340-0.340 EPS and its FY 2026 guidance at 1.250-1.260 EPS. On average, research analysts expect that Cloudflare, Inc. will post 0.03 EPS for the current year.

Analyst Ratings Changes

NET has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised Cloudflare to a "buy" rating in a research note on Tuesday, July 7th. Barclays increased their price objective on shares of Cloudflare from $300.00 to $355.00 and gave the stock an "overweight" rating in a research report on Friday, August 7th. Zacks Research cut Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Friday, August 14th. Sanford C. Bernstein restated a "market perform" rating and set a $136.00 target price on shares of Cloudflare in a report on Wednesday, June 10th. Finally, New Street Research reaffirmed a "market outperform" rating on shares of Cloudflare in a research report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, seven have assigned a Hold rating and four have given a Sell rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $320.19.

Institutional Trading of Cloudflare

Hedge funds have recently modified their holdings of the stock. CX Institutional boosted its stake in Cloudflare by 49.4% in the second quarter. CX Institutional now owns 133 shares of the company's stock valued at $33,000 after acquiring an additional 44 shares during the last quarter. Wealth Architects LLC lifted its stake in shares of Cloudflare by 4.6% in the 2nd quarter. Wealth Architects LLC now owns 1,022 shares of the company's stock valued at $251,000 after purchasing an additional 45 shares during the period. Forum Financial Management LP boosted its position in shares of Cloudflare by 3.5% in the 2nd quarter. Forum Financial Management LP now owns 1,498 shares of the company's stock worth $367,000 after purchasing an additional 50 shares during the last quarter. Quadrant Private Wealth Management LLC grew its stake in shares of Cloudflare by 3.2% during the first quarter. Quadrant Private Wealth Management LLC now owns 1,653 shares of the company's stock worth $341,000 after purchasing an additional 51 shares during the period. Finally, Essential Partners LLC grew its stake in shares of Cloudflare by 14.5% during the first quarter. Essential Partners LLC now owns 402 shares of the company's stock worth $83,000 after purchasing an additional 51 shares during the period. 82.68% of the stock is currently owned by institutional investors and hedge funds.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source