Insider Selling: Cloudflare (NYSE:NET) Insider Sells 25,641 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction that occurred on Monday, April 20th. The stock was sold at an average price of $199.37, for a total value of $5,112,046.17. Following the sale, the insider owned 34,514 shares in the company, valued at approximately $6,881,056.18. This represents a 42.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 22nd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $209.15, for a total value of $5,362,815.15.
• On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $189.50, for a total value of $4,858,969.50.
• On Tuesday, March 3rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $174.61, for a total value of $4,477,175.01.
• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $172.76, for a total value of $4,429,739.16.
• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $192.66, for a total value 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.

Cloudflare Stock Up 0.1%

Shares of Cloudflare stock traded up $0.18 on Wednesday, reaching $207.85. 2,051,675 shares of the company were exchanged, compared to its average volume of 4,475,614. Cloudflare, Inc. has a one year low of $112.12 and a one year high of $260.00. The company has a market capitalization of $73.16 billion, a price-to-earnings ratio of -716.70 and a beta of 1.87. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The company has a 50-day moving average of $198.01 and a 200 day moving average of $200.63.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business’s revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.19 EPS. On average, equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Ratings Changes

NET has been the topic of several research analyst reports. TD Cowen restated a “buy” rating on shares of Cloudflare in a research note on Tuesday, January 27th. UBS Group restated a “neutral” rating and issued a $220.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. Wolfe Research restated a “peer perform” rating on shares of Cloudflare in a research note on Monday, January 26th. Truist Financial set a $225.00 price objective on Cloudflare in a research note on Tuesday, January 20th. Finally, Cantor Fitzgerald restated a “neutral” rating and issued a $224.00 price objective on shares of Cloudflare in a research note on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Cloudflare has a consensus rating of “Moderate Buy” and an average target price of $232.62.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently made changes to their positions in the company. Pictet Asset Management Holding SA increased its stake in shares of Cloudflare by 17.6% during the first quarter. Pictet Asset Management Holding SA now owns 1,381,985 shares of the company’s stock worth $284,900,000 after purchasing an additional 206,506 shares during the period. Lewis Asset Management LLC bought a new position in shares of Cloudflare during the first quarter worth approximately $207,000. WT Wealth Management bought a new position in shares of Cloudflare during the first quarter worth approximately $223,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in shares of Cloudflare by 17.6% during the first quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 10,000 shares of the company’s stock worth $2,063,000 after purchasing an additional 1,500 shares during the period. Finally, Aaron Wealth Advisors LLC increased its stake in shares of Cloudflare by 17.6% during the first quarter. Aaron Wealth Advisors LLC now owns 1,718 shares of the company’s stock worth $354,000 after purchasing an additional 257 shares during the period. Institutional investors own 82.68% of the company’s stock.

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.