Michelle Zatlyn Sells 12,820 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $74.08, for a total value of $949,705.60. Following the sale, the chief operating officer now directly owns 211,394 shares in the company, valued at $15,660,067.52. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

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

• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The shares were sold at an average price of $74.94, for a total value of $4,561,073.22.
• 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 value of $1,650,411.85.
• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total value of $2,299,651.60.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $101.02, for a total value of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $97.96, for a total value of $2,511,694.40.

Cloudflare Trading Up 0.9 %

Shares of Cloudflare stock opened at $75.02 on Thursday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week high of $116.00. The stock has a 50 day moving average price of $87.40 and a two-hundred day moving average price of $85.02. The stock has a market capitalization of $25.49 billion, a PE ratio of -141.55 and a beta of 1.15.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. JPMorgan Chase & Co. dropped their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. KeyCorp dropped their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research report on Friday, May 3rd. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a research report on Tuesday, May 14th. Morgan Stanley increased their target price on Cloudflare from $66.00 to $92.00 and gave the company an “equal weight” rating in a research report on Monday, February 12th. Finally, Cantor Fitzgerald lowered their price objective on Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday, May 3rd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, Cloudflare has an average rating of “Hold” and an average target price of $91.87.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently added to or reduced their stakes in NET. Norges Bank acquired a new stake in Cloudflare in the fourth quarter valued at approximately $221,858,000. 1832 Asset Management L.P. boosted its position in shares of Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after buying an additional 1,597,900 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after buying an additional 740,914 shares during the last quarter. Capital World Investors boosted its position in shares of Cloudflare by 2.1% during the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after buying an additional 584,566 shares during the last quarter. Finally, SpiderRock Advisors LLC purchased a new position in shares of Cloudflare during the first quarter valued at approximately $37,740,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

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.