Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the completion of the transaction, the chief financial officer now directly owns 338,469 shares in the company, valued at $25,036,551.93. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Cloudflare Trading Down 0.2 %

Shares of Cloudflare stock opened at $74.12 on Wednesday. The firm has a 50-day simple moving average of $92.69 and a two-hundred day simple moving average of $83.93. The company has a market cap of $25.03 billion, a P/E ratio of -139.85 and a beta of 1.15. Cloudflare, Inc. has a fifty-two week low of $44.60 and a fifty-two week high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. As a group, equities analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have issued reports on NET shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price target on shares of Cloudflare in a report on Friday, May 3rd. Bank of America boosted their price objective on shares of Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Robert W. Baird dropped their price objective on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Oppenheimer dropped their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating on the stock in a report on Friday, May 3rd. Finally, Royal Bank of Canada boosted their price objective on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $89.48.

Institutional Trading of Cloudflare

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Cigna Investments Inc. New increased its stake in shares of Cloudflare by 4.2% during the first quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock worth $307,000 after purchasing an additional 129 shares in the last quarter. Yousif Capital Management LLC increased its stake in shares of Cloudflare by 4.0% during the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock worth $283,000 after purchasing an additional 130 shares in the last quarter. Kingswood Wealth Advisors LLC increased its stake in shares of Cloudflare by 0.5% during the fourth quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after purchasing an additional 132 shares in the last quarter. Quent Capital LLC increased its stake in shares of Cloudflare by 8.1% during the fourth quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after purchasing an additional 140 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Cloudflare by 34.4% during the first quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $65,000 after purchasing an additional 171 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

About Cloudflare

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, script management, security center, and rate limiting products.