Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the company’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $113.16, for a total value of $2,901,422.40. Following the completion of the sale, the chief operating officer now owns 172,959 shares in the company, valued at approximately $19,572,040.44. This represents a 12.91 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total value of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00.

Cloudflare Stock Performance

NET traded up $0.34 during trading on Thursday, hitting $114.86. 1,627,500 shares of the stock were exchanged, compared to its average volume of 3,162,321. The firm has a market capitalization of $39.42 billion, a P/E ratio of -441.75 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $116.00. The stock has a fifty day moving average price of $95.50 and a two-hundred day moving average price of $84.68. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on NET shares. BNP Paribas started coverage on Cloudflare in a research note on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective for the company. Morgan Stanley raised Cloudflare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $92.00 to $130.00 in a research note on Monday, December 2nd. UBS Group raised their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Mizuho raised their price objective on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Piper Sandler raised their price objective on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $94.40.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Tidal Investments LLC increased its stake in Cloudflare by 18.0% in the third quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock valued at $1,880,000 after purchasing an additional 3,550 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Cloudflare in the third quarter valued at $204,000. Sanctuary Advisors LLC increased its stake in Cloudflare by 37.2% in the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock valued at $1,143,000 after purchasing an additional 3,835 shares during the last quarter. Virtu Financial LLC acquired a new position in Cloudflare in the third quarter valued at $1,268,000. Finally, Advisory Resource Group increased its stake in Cloudflare by 1.6% during the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock worth $1,020,000 after acquiring an additional 195 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

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