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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $136.63, for a total transaction of $2,049,450.00. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at $34,549,491.47. This represents a 5.60 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Stock Up 2.9 %

Shares of NYSE:NET traded up $4.00 during trading hours on Wednesday, hitting $144.14. The company’s stock had a trading volume of 3,474,516 shares, compared to its average volume of 3,188,381. The firm’s fifty day moving average price is $115.82 and its 200 day moving average price is $95.58. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company has a market capitalization of $49.47 billion, a price-to-earnings ratio of -554.38 and a beta of 1.12. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $144.30.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently bought and sold shares of the company. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares during the period. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Cloudflare in the third quarter valued at approximately $38,000. Versant Capital Management Inc lifted its position in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after buying an additional 217 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Morgan Stanley increased their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Needham & Company LLC lifted their price target on Cloudflare from $110.00 to $160.00 and gave the stock a “buy” rating in a research report on Monday. Finally, Stifel Nicolaus upgraded 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 report on Tuesday, December 17th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $112.32.

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.