Cloudflare, Inc. (NYSE:NET – Get Free Report) CFO Thomas J. Seifert sold 16,901 shares of the firm’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $72.13, for a total transaction of $1,219,069.13. Following the completion of the sale, the chief financial officer now owns 243,495 shares of the company’s stock, valued at approximately $17,563,294.35. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Cloudflare Stock Up 0.2 %
Shares of Cloudflare stock traded up $0.11 on Monday, reaching $72.80. The stock had a trading volume of 2,650,112 shares, compared to its average volume of 4,727,799. The stock has a market capitalization of $24.44 billion, a P/E ratio of -120.49 and a beta of 0.97. Cloudflare, Inc. has a 1 year low of $37.56 and a 1 year high of $76.07. The company has a quick ratio of 3.89, a current ratio of 3.89 and a debt-to-equity ratio of 1.83. The company has a 50 day moving average price of $61.89 and a 200 day moving average price of $62.55.
Analysts Set New Price Targets
A number of brokerages recently weighed in on NET. The Goldman Sachs Group lifted their price objective on shares of Cloudflare from $38.00 to $43.00 and gave the company a “sell” rating in a report on Friday, August 4th. Morgan Stanley lifted their price objective on shares of Cloudflare from $55.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, November 7th. Royal Bank of Canada decreased their price objective on shares of Cloudflare from $70.00 to $65.00 and set an “outperform” rating for the company in a report on Friday, November 3rd. Citigroup lifted their price objective on shares of Cloudflare from $48.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 29th. Finally, Needham & Company LLC boosted their price target on shares of Cloudflare from $75.00 to $85.00 and gave the company a “buy” rating in a report on Friday, August 4th. Four equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $64.24.
Institutional Trading of Cloudflare
Large investors have recently bought and sold shares of the stock. Ellevest Inc. grew its position in Cloudflare by 14.3% during the 1st quarter. Ellevest Inc. now owns 2,685 shares of the company’s stock worth $166,000 after purchasing an additional 335 shares during the last quarter. RFG Advisory LLC grew its position in Cloudflare by 51.2% during the 2nd quarter. RFG Advisory LLC now owns 5,791 shares of the company’s stock worth $379,000 after purchasing an additional 1,962 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its holdings in shares of Cloudflare by 4.0% in the 2nd quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 299,483 shares of the company’s stock valued at $19,577,000 after acquiring an additional 11,600 shares during the last quarter. Van ECK Associates Corp purchased a new stake in shares of Cloudflare in the 1st quarter valued at $919,000. Finally, Independent Advisor Alliance boosted its holdings in shares of Cloudflare by 2.0% in the 1st quarter. Independent Advisor Alliance now owns 15,766 shares of the company’s stock valued at $972,000 after acquiring an additional 304 shares during the last quarter. Hedge funds and other institutional investors own 73.14% of the company’s stock.
Cloudflare Company Profile
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, secure origin connection, and rate limiting products.
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