Cloudflare (NYSE:NET) Insider Sells $4,939,995.06 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $192.66, for a total value of $4,939,995.06. Following the completion of the transaction, the insider directly owned 34,514 shares in the company, valued at $6,649,467.24. This trade represents a 42.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $172.76, for a total value of $4,429,739.16.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.05, for a total value of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $187.96, for a total value of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $208.61, for a total value of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total transaction of $5,260,251.15.

Cloudflare Stock Performance

Shares of NYSE NET traded down $17.16 during trading on Monday, reaching $159.98. 8,514,570 shares of the company traded hands, compared to its average volume of 6,731,796. The firm has a 50 day simple moving average of $187.79 and a 200-day simple moving average of $203.85. Cloudflare, Inc. has a 52-week low of $89.42 and a 52-week high of $260.00. The stock has a market capitalization of $56.04 billion, a PE ratio of -551.63 and a beta of 1.97. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.40%. The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same quarter in the prior year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was up 33.6% compared to the same quarter last year. Equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently made changes to their positions in NET. Empowered Funds LLC increased its position in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock valued at $750,000 after buying an additional 1,696 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Cloudflare during the 2nd quarter valued at about $424,000. Mutual of America Capital Management LLC purchased a new position in Cloudflare in the second quarter worth approximately $1,068,000. Cullen Frost Bankers Inc. acquired a new position in Cloudflare during the second quarter worth $45,000. Finally, 180 Wealth Advisors LLC acquired a new position in Cloudflare during the 2nd quarter worth about $315,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Guggenheim increased their price objective on shares of Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a report on Wednesday, February 11th. Robert W. Baird set a $260.00 target price on shares of Cloudflare and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Susquehanna set a $190.00 price target on shares of Cloudflare in a research note on Thursday, February 12th. Argus raised their price objective on Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Finally, New Street Research set a $140.00 target price on shares of Cloudflare in a report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.