Cloudflare (NYSE:NET) Director Mark Hawkins Sells 133 Shares of Stock

Cloudflare, Inc. (NYSE:NET) Director Mark Hawkins sold 133 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $209.60, for a total value of $27,876.80. Following the completion of the sale, the director directly owned 10,322 shares in the company, valued at approximately $2,163,491.20. This represents a 1.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Cloudflare Price Performance

NET opened at $211.30 on Friday. The firm has a market cap of $74.37 billion, a PE ratio of -728.58 and a beta of 1.87. The stock has a 50-day moving average price of $192.63 and a 200-day moving average price of $202.89. Cloudflare, Inc. has a 1 year low of $89.42 and a 1 year high of $260.00. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98.

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

Analyst Ratings Changes

Several equities research analysts recently weighed in on NET shares. Jefferies Financial Group raised their price target on shares of Cloudflare from $185.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, February 11th. Robert W. Baird set a $260.00 target price on Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Wells Fargo & Company boosted their price target on Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 11th. Morgan Stanley set a $245.00 price target on Cloudflare in a report on Wednesday, February 11th. Finally, Citigroup increased their price objective on Cloudflare from $260.00 to $265.00 and gave the company a “buy” rating in a research report on Thursday, February 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, eight have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and an average price target of $233.38.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Cloudflare by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 32,407,646 shares of the company’s stock worth $6,389,167,000 after purchasing an additional 90,397 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Cloudflare by 4.2% in the fourth quarter. Geode Capital Management LLC now owns 6,018,175 shares of the company’s stock worth $1,184,044,000 after purchasing an additional 241,981 shares during the last quarter. First Trust Advisors LP increased its stake in Cloudflare by 1.6% in the 4th quarter. First Trust Advisors LP now owns 4,019,157 shares of the company’s stock worth $792,377,000 after buying an additional 63,198 shares during the period. Invesco Ltd. lifted its holdings in Cloudflare by 1.3% during the 3rd quarter. Invesco Ltd. now owns 3,964,733 shares of the company’s stock valued at $850,792,000 after buying an additional 49,485 shares in the last quarter. Finally, Norges Bank bought a new stake in Cloudflare during the 4th quarter valued at about $718,316,000. 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.