Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 12,820 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the firm’s stock in a transaction dated Thursday, June 20th. The shares were sold at an average price of $78.51, for a total value of $1,006,498.20. Following the transaction, the chief operating officer now owns 211,394 shares in the company, valued at $16,596,542.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.54, for a total value of $994,062.80.
• On Wednesday, May 22nd, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $74.08, for a total value of $949,705.60.
• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The stock was sold at an average price of $74.94, for a total transaction of $4,561,073.22.
• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total transaction of $1,650,411.85.
• 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.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $77.94 on Monday. The stock’s 50-day moving average is $77.63 and its 200-day moving average is $85.36. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The firm has a market cap of $26.48 billion, a price-to-earnings ratio of -147.06 and a beta of 1.08. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. Equities analysts predict that Cloudflare, Inc. will post -0.19 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Riverview Trust Co bought a new position in shares of Cloudflare during the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC lifted its position in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in shares of Cloudflare during the fourth quarter worth approximately $38,000. GAMMA Investing LLC bought a new position in Cloudflare during the 4th quarter worth $39,000. Finally, Pingora Partners LLC bought a new stake in shares of Cloudflare in the fourth quarter valued at about $42,000. 82.68% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NET shares. Mizuho lowered their price target on Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Bank of America raised their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Oppenheimer cut their price target on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. UBS Group dropped their target price on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research report on Friday, May 3rd. Finally, KeyCorp reduced their price target on shares of Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $90.70.

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.