Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 10,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the transaction, the chief financial officer now owns 293,582 shares in the company, valued at approximately $35,229,840. The trade was a 3.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cloudflare Price Performance

Shares of NET opened at $118.95 on Friday. The business has a 50-day moving average of $136.73 and a 200-day moving average of $110.01. 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 $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37.

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

Analyst Upgrades and Downgrades

A number of research firms have commented on NET. Morgan Stanley initiated coverage on Cloudflare in a research note on Tuesday, March 18th. They set an “overweight” rating on the stock. The Goldman Sachs Group dropped their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, March 14th. UBS Group reduced their price objective on shares of Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Mizuho dropped their target price on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th. Finally, Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday, February 3rd. Four equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $131.64.

Institutional Trading of Cloudflare

A number of institutional investors have recently bought and sold shares of NET. Quarry LP lifted its stake in shares of Cloudflare by 38.6% in the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after purchasing an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare in the fourth quarter worth approximately $43,000. Quest Partners LLC acquired a new position in Cloudflare in the third quarter valued at approximately $54,000. Park Square Financial Group LLC bought a new position in shares of Cloudflare during the 4th quarter worth approximately $56,000. Finally, Larson Financial Group LLC grew its position in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock worth $58,000 after buying an additional 517 shares during the period. Institutional investors 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.