Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 18,955 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 18,955 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.07, for a total transaction of $1,650,411.85. Following the completion of the sale, the chief operating officer now directly owns 19,615 shares in the company, valued at $1,707,878.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $89.69, for a total transaction of $2,299,651.60.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $101.02, for a total transaction of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $97.96, for a total transaction of $2,511,694.40.
• On Tuesday, February 20th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $96.32, for a total transaction of $2,469,644.80.
• On Thursday, February 15th, Michelle Zatlyn sold 277,376 shares of Cloudflare stock. The stock was sold at an average price of $101.17, for a total transaction of $28,062,129.92.
• On Friday, January 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.68, for a total transaction of $1,008,677.60.

Cloudflare Stock Performance

NET traded down $1.29 during trading on Thursday, reaching $86.71. 2,510,021 shares of the company’s stock were exchanged, compared to its average volume of 3,816,684. The company has a market capitalization of $29.28 billion, a P/E ratio of -157.65 and a beta of 1.12. The business has a 50 day moving average price of $96.86 and a 200 day moving average price of $81.63. Cloudflare, Inc. has a fifty-two week low of $39.90 and a fifty-two week high of $116.00. The company has a quick ratio of 3.50, a current ratio of 3.50 and a debt-to-equity ratio of 1.68.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. As a group, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NET. Vanguard Group Inc. increased its position in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after purchasing an additional 740,914 shares during the period. Capital World Investors grew its position in shares of Cloudflare by 1.8% during the 4th quarter. Capital World Investors now owns 27,543,956 shares of the company’s stock worth $2,293,310,000 after buying an additional 487,308 shares during the period. Moneta Group Investment Advisors LLC grew its position in shares of Cloudflare by 131,133.8% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock worth $274,583,000 after buying an additional 6,068,873 shares during the period. State Street Corp grew its position in shares of Cloudflare by 5.3% during the 1st quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after buying an additional 278,422 shares during the period. Finally, Geode Capital Management LLC grew its position in shares of Cloudflare by 4.0% in the 1st quarter. Geode Capital Management LLC now owns 3,797,582 shares of the company’s stock valued at $233,843,000 after purchasing an additional 146,503 shares during the period. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NET. Susquehanna lifted their price target on shares of Cloudflare from $75.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Mizuho reduced their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price on the stock. in a research report on Tuesday, February 13th. Capital One Financial initiated coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 target price for the company. Finally, Truist Financial boosted their target price on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Cloudflare has a consensus rating of “Hold” and an average price target of $87.08.

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.