Cloudflare, Inc. (NYSE:NET) CFO Sells $1,187,850.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Thursday, October 3rd. The shares were sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,284,303.57. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Cloudflare Stock Up 5.0 %

Shares of NYSE NET opened at $83.43 on Monday. The firm has a market cap of $28.35 billion, a price-to-earnings ratio of -157.42 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock’s 50-day simple moving average is $79.91 and its 200-day simple moving average is $81.31.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The company had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. During the same period in the prior year, the company posted ($0.12) EPS. Cloudflare’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, equities analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Baillie Gifford & Co. grew its stake in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after purchasing an additional 2,575,396 shares in the last quarter. Marshall Wace LLP lifted its holdings in Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Cloudflare by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares in the last quarter. Capital World Investors increased its holdings in shares of Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after acquiring an additional 584,566 shares during the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in shares of Cloudflare during the 1st quarter valued at approximately $37,740,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on NET shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $92.00 price objective on shares of Cloudflare in a research note on Monday, June 17th. Royal Bank of Canada upped their price target on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Scotiabank assumed coverage on shares of Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target on the stock. Susquehanna upped their price objective on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Finally, UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and lifted their target price for the company from $76.00 to $82.00 in a report on Tuesday, June 25th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $92.29.

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.