Cloudflare, Inc. (NYSE:NET) CFO Sells $901,400.00 in Stock

Cloudflare, Inc. (NYSE:NETGet Rating) CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $45.07, for a total value of $901,400.00. Following the sale, the chief financial officer now owns 86,433 shares of the company’s stock, valued at approximately $3,895,535.31. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Cloudflare Stock Performance

NET stock opened at $42.70 on Friday. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 2.42. The firm has a market cap of $14.03 billion, a P/E ratio of -61.00 and a beta of 1.03. Cloudflare, Inc. has a 12-month low of $37.37 and a 12-month high of $132.45. The stock’s 50 day simple moving average is $46.10 and its 200 day simple moving average is $53.24.

Cloudflare (NYSE:NETGet Rating) last posted its quarterly earnings results on Thursday, November 3rd. The company reported ($0.11) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.02. Cloudflare had a negative return on equity of 27.82% and a negative net margin of 25.16%. The business had revenue of $253.86 million for the quarter, compared to analyst estimates of $250.20 million. As a group, equities research analysts predict that Cloudflare, Inc. will post -0.4 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Sands Capital Management LLC increased its position in Cloudflare by 15.4% in the second quarter. Sands Capital Management LLC now owns 15,643,953 shares of the company’s stock worth $684,423,000 after buying an additional 2,093,425 shares during the period. Vanguard Group Inc. increased its position in Cloudflare by 5.8% in the third quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock worth $1,399,341,000 after buying an additional 1,398,081 shares during the period. Baillie Gifford & Co. increased its position in Cloudflare by 2.5% in the third quarter. Baillie Gifford & Co. now owns 24,725,247 shares of the company’s stock worth $1,367,553,000 after buying an additional 610,639 shares during the period. Lord Abbett & CO. LLC acquired a new stake in Cloudflare in the third quarter worth $30,111,000. Finally, Renaissance Technologies LLC increased its position in Cloudflare by 62.2% in the first quarter. Renaissance Technologies LLC now owns 1,339,500 shares of the company’s stock worth $160,338,000 after buying an additional 513,800 shares during the period. 69.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Cantor Fitzgerald upped their price target on Cloudflare from $55.00 to $65.00 in a report on Friday, November 4th. Truist Financial decreased their price target on Cloudflare from $80.00 to $57.00 in a report on Monday, January 9th. Robert W. Baird decreased their price target on Cloudflare from $80.00 to $67.00 in a report on Friday, November 4th. Piper Sandler decreased their price target on Cloudflare from $58.00 to $46.00 in a report on Tuesday. Finally, Cowen decreased their price target on Cloudflare from $100.00 to $75.00 in a report on Friday, November 4th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Cloudflare currently has an average rating of “Hold” and a consensus price target of $75.54.

About Cloudflare

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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