Cloudflare, Inc. (NYSE:NET) COO Sells $661,127.40 in Stock

Cloudflare, Inc. (NYSE:NET – Get Rating) COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $51.57, for a total transaction of $661,127.40. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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

• On Friday, May 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $58.83, for a total transaction of $754,200.60.
• On Wednesday, April 12th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $63.00, for a total transaction of $807,660.00.
• On Monday, April 10th, Michelle Zatlyn sold 12,840 shares of Cloudflare stock. The shares were sold at an average price of $57.58, for a total transaction of $739,327.20.

Cloudflare Stock Down 0.9 %

NET opened at $57.99 on Friday. Cloudflare, Inc. has a fifty-two week low of $37.37 and a fifty-two week high of $80.99. The company has a debt-to-equity ratio of 2.20, a current ratio of 4.40 and a quick ratio of 4.40. The firm’s fifty day moving average price is $55.81 and its two-hundred day moving average price is $52.43. The company has a market capitalization of $19.25 billion, a P/E ratio of -98.29 and a beta of 1.01.

Cloudflare (NYSE:NET – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.10) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.02). The business had revenue of $290.18 million for the quarter, compared to analyst estimates of $290.96 million. Cloudflare had a negative return on equity of 25.10% and a negative net margin of 18.05%. On average, analysts anticipate that Cloudflare, Inc. will post -0.32 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NET. PNC Financial Services Group Inc. lifted its holdings in shares of Cloudflare by 48.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock valued at $1,066,000 after acquiring an additional 2,912 shares during the period. MetLife Investment Management LLC bought a new position in shares of Cloudflare during the first quarter valued at $1,950,000. Synovus Financial Corp bought a new position in shares of Cloudflare during the first quarter valued at $439,000. Cibc World Market Inc. lifted its holdings in shares of Cloudflare by 16.8% during the first quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock valued at $2,611,000 after acquiring an additional 3,140 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Cloudflare by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock valued at $21,732,000 after buying an additional 17,681 shares during the last quarter. 69.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on NET. William Blair reaffirmed an “outperform” rating on shares of Cloudflare in a research report on Wednesday, April 19th. Cantor Fitzgerald dropped their price target on shares of Cloudflare from $65.00 to $50.00 in a research report on Friday, April 28th. Truist Financial lifted their price target on shares of Cloudflare from $57.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, February 10th. Citigroup lifted their price target on shares of Cloudflare from $50.00 to $59.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Finally, The Goldman Sachs Group began coverage on shares of Cloudflare in a research report on Tuesday, February 14th. They issued a “sell” rating and a $51.00 price target on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $61.04.

Cloudflare Company Profile

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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.