Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 50,000 Shares

Cloudflare, Inc. (NYSE:NETGet Free Report) CFO Thomas J. Seifert sold 50,000 shares of the business’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the completion of the transaction, the chief financial officer now owns 366,465 shares in the company, valued at approximately $40,351,461.15. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Cloudflare Price Performance

Shares of NET stock traded down $2.28 during mid-day trading on Monday, hitting $105.64. 10,877,799 shares of the stock traded hands, compared to its average volume of 4,844,865. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The firm has a market cap of $35.47 billion, a price-to-earnings ratio of -192.07 and a beta of 1.10. The company’s 50-day simple moving average is $82.41 and its 200-day simple moving average is $70.57. The company has a debt-to-equity ratio of 1.83, a quick ratio of 3.89 and a current ratio of 3.89.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Susquehanna boosted their price objective on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a report on Friday. KeyCorp boosted their price objective on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 target price for the company. Mizuho boosted their target price on shares of Cloudflare from $73.00 to $105.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada boosted their target price on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $86.52.

Check Out Our Latest Stock Analysis on NET

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of the stock. Capital World Investors boosted its position in shares of Cloudflare by 56.7% in the second quarter. Capital World Investors now owns 26,433,363 shares of the company’s stock worth $1,727,949,000 after buying an additional 9,560,273 shares during the period. Moneta Group Investment Advisors LLC boosted its position in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the last quarter. Norges Bank acquired a new stake in Cloudflare during the fourth quarter valued at $124,592,000. 1832 Asset Management L.P. boosted its position in Cloudflare by 315.1% during the first quarter. 1832 Asset Management L.P. now owns 1,888,400 shares of the company’s stock valued at $116,439,000 after purchasing an additional 1,433,500 shares during the last quarter. Finally, Two Sigma Investments LP boosted its position in Cloudflare by 215.1% during the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock valued at $82,927,000 after purchasing an additional 918,096 shares during the last quarter. 73.14% of the stock is currently owned by institutional investors and hedge funds.

Cloudflare Company Profile

(Get Free Report)

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, secure origin connection, and rate limiting products.

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