Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $113.81, for a total value of $1,707,150.00. Following the completion of the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $28,779,020.89. This represents a 5.60 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cloudflare Stock Performance

Shares of NYSE NET opened at $115.82 on Thursday. The firm has a market capitalization of $39.75 billion, a price-to-earnings ratio of -445.46 and a beta of 1.10. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $119.42. The business has a fifty day simple moving average of $103.82 and a 200 day simple moving average of $89.73. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The company had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CVA Family Office LLC raised its holdings in shares of Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after buying an additional 171 shares in the last quarter. Quarry LP grew its position in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Capital Performance Advisors LLP acquired a new position in Cloudflare during the third quarter worth $38,000. Quest Partners LLC bought a new position in shares of Cloudflare during the third quarter valued at $54,000. Finally, Versant Capital Management Inc lifted its holdings in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares during the period. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on NET. Stifel Nicolaus upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and upped their price objective for the company from $95.00 to $136.00 in a research note on Tuesday, December 17th. Wells Fargo & Company increased their price objective on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday. Mizuho lifted their price objective on Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Piper Sandler upped their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $102.30.

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.