Cloudflare, Inc. (NYSE:NET) Insider Michelle Zatlyn Sells 35,098 Shares

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 35,098 shares of the firm’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $156.83, for a total value of $5,504,419.34. Following the transaction, the insider now owns 6,390 shares in the company, valued at $1,002,143.70. This represents a 84.60% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.72, for a total value of $4,018,300.80.
• On Thursday, April 17th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20.
• On Tuesday, April 15th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $107.29, for a total value of $2,750,915.60.
• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60.
• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.67, for a total value of $4,017,018.80.

Cloudflare Stock Performance

Cloudflare stock opened at $158.07 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The stock has a fifty day moving average of $121.68 and a two-hundred day moving average of $121.62. The company has a market capitalization of $54.54 billion, a price-to-earnings ratio of -718.49 and a beta of 1.78. Cloudflare, Inc. has a fifty-two week low of $66.24 and a fifty-two week high of $177.37.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing the consensus estimate of $0.17 by ($0.01). The company had revenue of $479.09 million for the quarter, compared to analysts’ expectations of $469.49 million. Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The business’s quarterly revenue was up 26.5% on a year-over-year basis. During the same period in the previous year, the business posted $0.16 EPS. On average, analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on NET shares. Truist Financial raised their price target on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a report on Tuesday, January 28th. Morgan Stanley raised their price target on Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Cantor Fitzgerald raised their price target on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a report on Friday, February 7th. The Goldman Sachs Group reduced their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Finally, Needham & Company LLC raised their price target on Cloudflare from $145.00 to $160.00 and gave the company a “buy” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $141.79.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Assenagon Asset Management S.A. boosted its holdings in Cloudflare by 38.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 4,781 shares of the company’s stock valued at $515,000 after acquiring an additional 1,326 shares during the last quarter. Aaron Wealth Advisors LLC acquired a new position in Cloudflare in the fourth quarter valued at $213,000. Diversify Wealth Management LLC acquired a new position in Cloudflare in the fourth quarter valued at $287,000. Crossmark Global Holdings Inc. acquired a new position in Cloudflare in the fourth quarter valued at $259,000. Finally, Atomi Financial Group Inc. lifted its stake in shares of Cloudflare by 3.3% during the fourth quarter. Atomi Financial Group Inc. now owns 2,966 shares of the company’s stock worth $319,000 after purchasing an additional 94 shares in the last quarter. 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.