Thomas Seifert Sells 10,341 Shares of Cloudflare (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas Seifert sold 10,341 shares of Cloudflare stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $212.30, for a total transaction of $2,195,394.30. Following the sale, the chief financial officer owned 224,625 shares in the company, valued at $47,687,887.50. This represents a 4.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cloudflare Stock Performance

Shares of NYSE NET traded up $4.50 during trading on Tuesday, reaching $211.83. 2,953,139 shares of the stock were exchanged, compared to its average volume of 4,075,209. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The business’s 50-day moving average price is $185.89 and its 200 day moving average price is $202.98. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00.

Cloudflare (NYSE:NET) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same period last year, the firm earned $0.19 earnings per share. The company’s revenue was up 33.6% on a year-over-year basis. Equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. HM Payson & Co. acquired a new stake in shares of Cloudflare during the fourth quarter worth $25,000. Physician Wealth Advisors Inc. boosted its holdings in shares of Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares during the period. Wiser Advisor Group LLC bought a new stake in shares of Cloudflare during the 3rd quarter valued at about $26,000. Westside Investment Management Inc. grew its position in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares during the last quarter. Finally, Twin Peaks Wealth Advisors LLC acquired a new stake in Cloudflare during the second quarter worth about $29,000. 82.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

NET has been the topic of a number of recent analyst reports. Robert W. Baird set a $260.00 target price on Cloudflare and gave the company an “outperform” rating 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. New Street Research set a $140.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. BTIG Research increased their price objective on shares of Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research note on Wednesday, February 11th. Finally, Scotiabank decreased their price objective on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $233.38.

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.