Katrin Suder Sells 608 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) Director Katrin Suder sold 608 shares of Cloudflare stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $172.00, for a total value of $104,576.00. Following the completion of the transaction, the director now owns 41,785 shares in the company, valued at $7,187,020. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Cloudflare Stock Down 1.0%

Shares of NYSE:NET traded down $1.72 during mid-day trading on Monday, hitting $177.95. 2,634,261 shares of the company traded hands, compared to its average volume of 3,133,499. The firm’s 50 day simple moving average is $132.42 and its 200 day simple moving average is $127.69. The firm has a market cap of $61.68 billion, a P/E ratio of -808.86 and a beta of 1.84. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a 52-week low of $69.26 and a 52-week high of $181.81.

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

Institutional Investors Weigh In On Cloudflare

A number of large investors have recently added to or reduced their stakes in NET. Stratos Wealth Partners LTD. boosted its position in Cloudflare by 1.2% in the 4th quarter. Stratos Wealth Partners LTD. now owns 6,583 shares of the company’s stock valued at $709,000 after buying an additional 77 shares during the last quarter. Choreo LLC increased its position in shares of Cloudflare by 3.0% during the fourth quarter. Choreo LLC now owns 4,766 shares of the company’s stock worth $519,000 after acquiring an additional 137 shares during the last quarter. Bleakley Financial Group LLC lifted its stake in shares of Cloudflare by 16.0% in the fourth quarter. Bleakley Financial Group LLC now owns 4,199 shares of the company’s stock worth $452,000 after acquiring an additional 579 shares in the last quarter. Pacific Wealth Strategies Group Inc. purchased a new position in Cloudflare in the fourth quarter valued at about $215,000. Finally, Empowered Funds LLC boosted its holdings in Cloudflare by 13.3% in the fourth quarter. Empowered Funds LLC now owns 4,960 shares of the company’s stock valued at $534,000 after purchasing an additional 582 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Susquehanna decreased their price target on Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a report on Monday, May 12th. Mizuho upgraded shares of Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research report on Wednesday, April 16th. Oppenheimer reaffirmed an “outperform” rating and issued a $200.00 target price (up previously from $165.00) on shares of Cloudflare in a report on Thursday. Morgan Stanley boosted their price target on shares of Cloudflare from $144.00 to $150.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, Bank of America raised shares of Cloudflare from an “underperform” rating to a “buy” rating and increased their price target for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $145.92.

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.