Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 28,635 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total value of $4,640,874.45. Following the sale, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $47,580,834.74. The trade was a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Cloudflare Stock Performance

Shares of NET stock opened at $160.48 on Thursday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $177.37. The company’s 50-day simple moving average is $128.51 and its 200-day simple moving average is $102.19. The stock has a market capitalization of $55.07 billion, a price-to-earnings ratio of -729.45 and a beta of 1.12.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Large investors have recently made changes to their positions in the company. Hartline Investment Corp increased its stake in shares of Cloudflare by 7.6% during the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after acquiring an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the third quarter valued at approximately $25,588,000. Charles Schwab Investment Management Inc. increased its stake in shares of Cloudflare by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after acquiring an additional 29,960 shares during the period. National Pension Service increased its stake in shares of Cloudflare by 0.9% during the third quarter. National Pension Service now owns 471,923 shares of the company’s stock valued at $38,174,000 after acquiring an additional 4,062 shares during the period. Finally, Strategic Blueprint LLC acquired a new position in shares of Cloudflare during the fourth quarter valued at approximately $265,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on NET shares. Morgan Stanley upped their price objective on Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Truist Financial upped their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a report on Tuesday, January 28th. Needham & Company LLC restated a “buy” rating and set a $185.00 price objective on shares of Cloudflare in a report on Tuesday. Jefferies Financial Group increased their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $136.28.

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.