Cloudflare, Inc. (NYSE:NET) Insider Sells $3,354,994.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $130.85, for a total value of $3,354,994.00. Following the sale, the insider now owns 413,413 shares in the company, valued at $54,095,091.05. The trade was a 5.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

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

• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $117.34, for a total transaction of $3,008,597.60.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.67, for a total transaction of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total transaction 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.

Cloudflare Trading Down 3.1 %

Cloudflare stock opened at $114.89 on Friday. The stock has a 50-day moving average of $137.47 and a two-hundred day moving average of $111.56. 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 stock has a market cap of $39.64 billion, a PE ratio of -522.21 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced 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%. On average, research analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in NET. Quarry LP lifted its position in Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after acquiring an additional 133 shares during the period. Gordian Capital Singapore Pte Ltd purchased a new position in shares of Cloudflare in the fourth quarter worth about $43,000. Quest Partners LLC purchased a new position in shares of Cloudflare in the third quarter worth about $54,000. Park Square Financial Group LLC purchased a new stake in Cloudflare in the fourth quarter valued at approximately $56,000. Finally, Larson Financial Group LLC increased its holdings in Cloudflare by 1,988.5% in 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. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their target price on Cloudflare from $183.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, March 14th. Cantor Fitzgerald lifted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and upped their target price for the stock from $60.00 to $160.00 in a research note on Tuesday, March 25th. Guggenheim lifted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. Finally, Scotiabank increased their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday, January 21st. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $135.64.

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.