Cloudflare, Inc. (NYSE:NET) CAO Sells $725,205.20 in Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 4,327 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $167.60, for a total value of $725,205.20. Following the sale, the chief accounting officer now directly owns 74,698 shares of the company’s stock, valued at $12,519,384.80. This trade represents a 5.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Cloudflare Stock Down 4.9 %

Cloudflare stock traded down $8.33 during trading on Wednesday, hitting $160.48. 5,536,314 shares of the company were exchanged, compared to its average volume of 3,955,991. The company has a market capitalization of $55.07 billion, a P/E ratio of -729.45 and a beta of 1.12. The business’s 50 day moving average is $126.45 and its 200 day moving average is $101.15. Cloudflare, Inc. has a 52 week low of $66.24 and a 52 week high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its quarterly earnings data 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 net margin of 4.72% and a negative return on equity of 5.52%. Analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on NET. Needham & Company LLC reissued a “buy” rating and set a $185.00 target price on shares of Cloudflare in a research report on Tuesday. Mizuho upped their target price on Cloudflare from $130.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, February 10th. Piper Sandler raised their target price on Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Finally, Morgan Stanley raised their price objective on shares of Cloudflare from $130.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $136.28.

Hedge Funds Weigh In On Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the company. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter worth approximately $38,000. Quarry LP raised its stake in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares during the last quarter. Gordian Capital Singapore Pte Ltd bought a new stake in Cloudflare in the fourth quarter worth $43,000. Quest Partners LLC purchased a new stake in shares of Cloudflare in the third quarter worth $54,000. Finally, Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% during the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares in the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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.