Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Friday, January 24th. The shares were sold at an average price of $123.75, for a total transaction of $3,172,950.00. Following the transaction, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $21,403,676.25. The trade was a 12.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $113.16, for a total transaction of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40.

Cloudflare Stock Up 1.0 %

NET opened at $125.19 on Monday. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $125.71. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a fifty day moving average of $110.70 and a two-hundred day moving average of $92.86. The stock has a market capitalization of $42.96 billion, a price-to-earnings ratio of -481.49 and a beta of 1.10.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share 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. On average, research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on NET shares. Mizuho lifted their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Piper Sandler lifted their price target on shares of Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Jefferies Financial Group lifted their price target on shares of Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Cantor Fitzgerald started coverage on shares of Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price target on the stock. Finally, Royal Bank of Canada lifted their price target on shares of Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, January 3rd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $108.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Atomi Financial Group Inc. increased its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of Cloudflare by 4.3% during the fourth quarter. Chicago Partners Investment Group LLC now owns 2,529 shares of the company’s stock worth $293,000 after purchasing an additional 105 shares in the last quarter. Wealth Management Partners LLC increased its stake in shares of Cloudflare by 3.3% during the fourth quarter. Wealth Management Partners LLC now owns 3,549 shares of the company’s stock worth $382,000 after purchasing an additional 114 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of Cloudflare by 13.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after purchasing an additional 119 shares in the last quarter. Finally, Quarry LP increased its stake in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.