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

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the business’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $86.79, for a total value of $1,301,850.00. Following the transaction, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Price Performance

Shares of NET traded down $1.06 on Monday, hitting $86.49. The company’s stock had a trading volume of 2,016,214 shares, compared to its average volume of 3,128,919. The company has a market capitalization of $29.55 billion, a PE ratio of -297.90 and a beta of 1.10. Cloudflare, Inc. has a fifty-two week low of $61.34 and a fifty-two week high of $116.00. The company has a 50 day moving average price of $83.82 and a 200 day moving average price of $80.48. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business’s revenue for the quarter was up 30.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.12) earnings per share. On average, research analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Guggenheim upped their price target on Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a report on Friday, August 2nd. Robert W. Baird raised their price target on shares of Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Piper Sandler upped their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Finally, Cantor Fitzgerald upped their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $91.72.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. CVA Family Office LLC increased its position in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the period. Quarry LP raised its holdings in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare during the 2nd quarter valued at about $29,000. Finally, Versant Capital Management Inc grew its position in shares of Cloudflare by 1,202.9% during the 2nd quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after buying an additional 421 shares during the period. 82.68% of the stock is owned by institutional investors.

About Cloudflare

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.