Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60. Following the completion of the transaction, the insider now directly owns 413,413 shares of the company’s stock, valued at $48,509,881.42. This trade represents a 5.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total transaction of $3,354,994.00.
• 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 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 stock was 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 shares were sold at an average price of $120.40, for a total value of $3,087,056.00.

Cloudflare Price Performance

NET stock opened at $114.89 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The business has a 50-day simple moving average of $137.47 and a two-hundred day simple moving average of $111.31. The company has a market capitalization of $39.64 billion, a P/E ratio of -522.21 and a beta of 1.27. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $177.37.

Cloudflare (NYSE:NET) last announced 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 return on equity of 5.52% and a negative net margin of 4.72%. Research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NET. Groupama Asset Managment bought a new stake in Cloudflare in the 4th quarter worth about $269,200,000. Norges Bank bought a new position in shares of Cloudflare in the fourth quarter valued at approximately $249,544,000. American Century Companies Inc. grew its holdings in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock valued at $243,098,000 after acquiring an additional 1,017,399 shares in the last quarter. Fred Alger Management LLC lifted its holdings in Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after acquiring an additional 836,591 shares during the period. Finally, Invesco Ltd. lifted its holdings in Cloudflare by 292.5% during the fourth quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock worth $116,178,000 after acquiring an additional 804,059 shares during the period. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on NET. JMP Securities upped their price objective on Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. upped their price target on shares of Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Guggenheim lifted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a report on Friday, February 7th. Stifel Nicolaus increased their price objective on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 target price (up from $125.00) on shares of Cloudflare in a report on Monday, February 3rd. 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 target price of $135.64.

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.