Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The shares were sold at an average price of $164.84, for a total value of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $120.40, for a total value of $3,087,056.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total value of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total value 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 value of $3,697,925.40.

Cloudflare Stock Performance

NET opened at $151.83 on Monday. The business’s 50-day moving average price is $130.11 and its two-hundred day moving average price is $103.46. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market capitalization of $52.11 billion, a price-to-earnings ratio of -690.12 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on NET shares. Baird R W cut Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. UBS Group increased their target price on Cloudflare from $130.00 to $165.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Scotiabank increased their target price on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a report on Tuesday, January 21st. Oppenheimer cut Cloudflare from an “outperform” rating to a “market perform” rating in a report on Friday, February 7th. Finally, JPMorgan Chase & Co. increased their target price on Cloudflare from $110.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday, February 7th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $136.28.

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently modified their holdings of NET. Putney Financial Group LLC acquired a new position in Cloudflare during the fourth quarter worth approximately $664,000. Mackenzie Financial Corp increased its position in Cloudflare by 2.5% during the fourth quarter. Mackenzie Financial Corp now owns 14,641 shares of the company’s stock worth $1,577,000 after buying an additional 357 shares during the last quarter. Toronto Dominion Bank increased its position in Cloudflare by 7.0% during the fourth quarter. Toronto Dominion Bank now owns 39,763 shares of the company’s stock worth $4,282,000 after buying an additional 2,605 shares during the last quarter. Warm Springs Advisors Inc. acquired a new position in Cloudflare during the fourth quarter worth approximately $1,637,000. Finally, WCG Wealth Advisors LLC increased its position in Cloudflare by 2.3% during the fourth quarter. WCG Wealth Advisors LLC now owns 11,126 shares of the company’s stock worth $1,198,000 after buying an additional 246 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.