Cloudflare (NYSE:NET) CAO Janel Riley Sells 23,332 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 23,332 shares of the business’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $190.00, for a total value of $4,433,080.00. Following the transaction, the chief accounting officer directly owned 56,791 shares of the company’s stock, valued at approximately $10,790,290. The trade was a 29.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Cloudflare Trading Up 1.3%

NET opened at $194.79 on Friday. The company has a market cap of $68.23 billion, a P/E ratio of -671.67 and a beta of 1.98. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The company’s 50 day moving average is $184.30 and its 200-day moving average is $202.48. Cloudflare, Inc. has a 1-year low of $89.42 and a 1-year high of $260.00.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating the consensus estimate of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The business had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. During the same quarter in the prior year, the firm earned $0.19 EPS. The firm’s revenue was up 33.6% compared to the same quarter last year. Equities research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Reflection Asset Management acquired a new stake in shares of Cloudflare during the fourth quarter worth $86,000. MidFirst Bank bought a new stake in Cloudflare during the fourth quarter valued at $801,000. Walser Wealth Management Company A Ltd Liability Co acquired a new stake in Cloudflare during the 4th quarter worth about $232,000. Sunbelt Securities Inc. grew its holdings in Cloudflare by 18.4% during the 4th quarter. Sunbelt Securities Inc. now owns 1,409 shares of the company’s stock worth $278,000 after acquiring an additional 219 shares during the period. Finally, Corient Private Wealth LLC boosted its position in shares of Cloudflare by 4,042.6% during the 4th quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock valued at $275,887,000 after purchasing an additional 1,365,598 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on NET. BTIG Research upped their target price on Cloudflare from $199.00 to $243.00 and gave the stock a “buy” rating in a report on Wednesday, February 11th. Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. KeyCorp reaffirmed an “overweight” rating on shares of Cloudflare in a research note on Wednesday, February 11th. Scotiabank dropped their price objective on shares of Cloudflare from $255.00 to $225.00 and set a “sector perform” rating for the company in a report on Wednesday, February 11th. Finally, DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $230.70.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.