Michelle Zatlyn Sells 25,641 Shares of Cloudflare (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Monday, February 23rd. The shares were sold at an average price of $172.76, for a total transaction of $4,429,739.16. Following the completion of the transaction, the insider directly owned 34,514 shares in the company, valued at $5,962,638.64. The trade was a 42.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $192.66, for a total transaction of $4,939,995.06.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The stock was sold at an average price of $187.39, for a total value of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $190.05, for a total value of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $187.96, for a total transaction of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $208.61, for a total transaction of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total transaction of $5,260,251.15.

Cloudflare Stock Performance

Shares of NET traded down $17.16 during mid-day trading on Monday, hitting $159.98. 8,514,570 shares of the company’s stock were exchanged, compared to its average volume of 6,731,796. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The stock’s 50-day simple moving average is $187.79 and its 200-day simple moving average is $203.85. The firm has a market cap of $56.04 billion, a price-to-earnings ratio of -551.63 and a beta of 1.97.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. The firm had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The company’s quarterly revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.19 EPS. On average, equities research analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current year.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of NET. Empowered Funds LLC grew its stake in shares of Cloudflare by 34.2% in the first quarter. Empowered Funds LLC now owns 6,656 shares of the company’s stock worth $750,000 after purchasing an additional 1,696 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Cloudflare during the 2nd quarter worth about $424,000. Mutual of America Capital Management LLC bought a new stake in shares of Cloudflare in the 2nd quarter valued at about $1,068,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Cloudflare in the second quarter valued at about $45,000. Finally, 180 Wealth Advisors LLC acquired a new stake in shares of Cloudflare in the second quarter valued at about $315,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on NET shares. Oppenheimer started coverage on shares of Cloudflare in a report on Monday, November 10th. They set an “outperform” rating and a $260.00 price target for the company. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. Argus upped their target price on Cloudflare from $238.00 to $265.00 and gave the stock a “buy” rating in a research note on Monday, November 10th. Royal Bank Of Canada lifted their price target on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research note on Wednesday, February 11th. Finally, Barclays boosted their price target on Cloudflare from $235.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and an average price target of $230.70.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.