Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NETGet Free Report) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $78.47, for a total transaction of $1,177,050.00. Following the transaction, the chief financial officer now directly owns 309,937 shares of the company’s stock, valued at $24,320,756.39. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Cloudflare Price Performance

NYSE:NET traded up $0.66 during midday trading on Monday, hitting $78.60. 3,249,035 shares of the stock were exchanged, compared to its average volume of 3,766,396. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $26.71 billion, a price-to-earnings ratio of -147.06 and a beta of 1.08. The business has a 50-day moving average price of $77.63 and a two-hundred day moving average price of $85.36.

Cloudflare (NYSE:NETGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $378.60 million during the quarter, compared to analyst estimates of $372.93 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Sell-side analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently bought and sold shares of NET. Cigna Investments Inc. New boosted its holdings in Cloudflare by 4.2% in the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after purchasing an additional 129 shares during the period. Yousif Capital Management LLC raised its position in Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after acquiring an additional 130 shares during the period. Kingswood Wealth Advisors LLC raised its position in shares of Cloudflare by 0.5% in the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock valued at $2,278,000 after purchasing an additional 132 shares during the period. Quent Capital LLC grew its stake in Cloudflare by 8.1% in the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after buying an additional 140 shares in the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in shares of Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after purchasing an additional 168 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NET shares. Citigroup lowered their target price on Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. TD Cowen lowered their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a research note on Friday, May 3rd. KeyCorp cut their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Oppenheimer decreased their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Finally, The Goldman Sachs Group dropped their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating on the stock in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $90.70.

View Our Latest Research Report on Cloudflare

Cloudflare Company Profile

(Get Free Report)

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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Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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