Cloudflare (NYSE:NET) Insider Michelle Zatlyn Sells 25,641 Shares

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $192.66, for a total transaction of $4,939,995.06. Following the completion of the transaction, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $6,649,467.24. The trade was a 42.62% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $172.76, for a total transaction of $4,429,739.16.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The stock was sold at an average price of $187.39, for a total transaction of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.05, for a total transaction of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $187.96, for a total transaction of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $208.61, for a total value of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $205.15, for a total value of $5,260,251.15.

Cloudflare Stock Down 9.7%

NYSE:NET traded down $17.16 on Monday, hitting $159.98. The stock had a trading volume of 8,514,570 shares, compared to its average volume of 6,731,796. The company has a market cap of $56.04 billion, a PE ratio of -551.63 and a beta of 1.97. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The business’s fifty day moving average is $187.79 and its 200 day moving average is $203.85. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last posted its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The company had revenue of $614.51 million for the quarter, compared to analyst estimates of $591.67 million. During the same quarter in the prior year, the business posted $0.19 EPS. The firm’s revenue was up 33.6% compared to the same quarter last year. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have issued reports on NET. Citigroup upped their price objective on Cloudflare from $260.00 to $265.00 and gave the company a “buy” rating in a research note on Thursday, February 12th. Argus increased their price target on shares of Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 10th. New Street Research set a $140.00 price objective on shares of Cloudflare in a research report on Wednesday, February 11th. KeyCorp reissued an “overweight” rating on shares of Cloudflare in a research report on Wednesday, February 11th. Finally, Scotiabank reduced their target price on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $230.70.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently made changes to their positions in NET. Norges Bank bought a new position in shares of Cloudflare during the fourth quarter valued at $718,316,000. Jennison Associates LLC grew its position in Cloudflare by 802.6% during the 4th quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock valued at $367,411,000 after purchasing an additional 1,657,144 shares during the last quarter. Corient Private Wealth LLC increased its stake in Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock valued at $275,887,000 after purchasing an additional 1,365,598 shares in the last quarter. Groupama Asset Managment purchased a new position in Cloudflare in the second quarter worth about $225,204,000. Finally, Vanguard Group Inc. lifted its stake in shares of Cloudflare by 2.6% in the third quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after buying an additional 821,684 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.