Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at $28,779,020.89. This trade represents a 5.60 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cloudflare Stock Down 0.6 %

NET stock traded down $0.73 during trading on Monday, reaching $114.00. 2,422,628 shares of the stock were exchanged, compared to its average volume of 3,185,075. The firm’s 50 day moving average is $102.82 and its 200 day moving average is $89.16. The firm has a market cap of $39.12 billion, a P/E ratio of -438.46 and a beta of 1.10. 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, Inc. has a twelve month low of $66.24 and a twelve month high of $119.42.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to analyst estimates of $423.65 million. As a group, research analysts forecast that Cloudflare, Inc. will post -0.1 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NET. Wells Fargo & Company upped their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Jefferies Financial Group upped their target price on Cloudflare from $100.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday, December 19th. Scotiabank lifted their price target on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a research note on Friday, November 8th. Piper Sandler raised their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Finally, Mizuho boosted their target price on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $101.37.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Market Strategies LLC acquired a new position in Cloudflare during the 4th quarter valued at about $647,000. Nordea Investment Management AB boosted its position in shares of Cloudflare by 0.7% during the fourth quarter. Nordea Investment Management AB now owns 39,776 shares of the company’s stock valued at $4,307,000 after buying an additional 261 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Cloudflare during the fourth quarter worth $803,000. GAMMA Investing LLC raised its position in Cloudflare by 59.0% in the 4th quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after acquiring an additional 170 shares in the last quarter. 82.68% of the stock is owned by 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.