Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $89.69, for a total transaction of $2,299,651.60. Following the sale, the chief operating officer now directly owns 19,615 shares in the company, valued at approximately $1,759,269.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total transaction of $1,650,411.85.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $101.02, for a total transaction of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $97.96, for a total transaction of $2,511,694.40.
• On Tuesday, February 20th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $96.32, for a total transaction of $2,469,644.80.
• On Thursday, February 15th, Michelle Zatlyn sold 277,376 shares of Cloudflare stock. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92.
• On Friday, January 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.68, for a total transaction of $1,008,677.60.

Cloudflare Price Performance

NET stock traded down $1.29 on Thursday, reaching $86.71. 2,510,021 shares of the company’s stock were exchanged, compared to its average volume of 3,816,684. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a market cap of $29.28 billion, a PE ratio of -157.65 and a beta of 1.12. Cloudflare, Inc. has a twelve month low of $39.90 and a twelve month high of $116.00. The stock has a fifty day moving average of $96.86 and a 200-day moving average of $81.63.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in NET. Riverview Trust Co purchased a new position in Cloudflare during the first quarter worth about $27,000. Allspring Global Investments Holdings LLC grew its stake in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after buying an additional 238 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of Cloudflare in the first quarter valued at about $29,000. ICA Group Wealth Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $38,000. Finally, GAMMA Investing LLC acquired a new stake in shares of Cloudflare in the fourth quarter valued at about $39,000. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NET has been the topic of a number of analyst reports. Sanford C. Bernstein began coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 price objective on the stock. Susquehanna raised their price objective on Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a report on Friday, February 9th. Needham & Company LLC raised their price objective on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a report on Friday, February 9th. Truist Financial lifted their price target on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 9th. Finally, Capital One Financial began coverage on Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective for the company. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $87.08.

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.