Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 102,580 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 102,580 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.52, for a total transaction of $8,464,901.60. Following the completion of the transaction, the chief operating officer now owns 211,394 shares in the company, valued at $17,444,232.88. The sale was disclosed in a filing with the SEC, which is available through this link.

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

• On Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $85.28, for a total value of $2,186,579.20.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.51, for a total value of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was 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 transaction of $949,705.60.
• On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The shares were 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 stock was 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 value of $2,299,651.60.

Cloudflare Price Performance

NYSE:NET opened at $84.55 on Thursday. The company has a 50 day moving average price of $76.76 and a 200-day moving average price of $85.44. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.02. The firm had revenue of $378.60 million for the quarter, compared to analysts’ expectations of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Cloudflare in the 4th quarter worth $221,858,000. 1832 Asset Management L.P. increased its stake in shares of Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after purchasing an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cloudflare by 2.7% during the 4th 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 last quarter. Capital World Investors lifted its stake in Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock valued at $2,723,685,000 after buying an additional 584,566 shares in the last quarter. Finally, SpiderRock Advisors LLC acquired a new stake in Cloudflare in the 1st quarter worth about $37,740,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on NET. Oppenheimer reduced their target price on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday, May 3rd. Wells Fargo & Company lowered their target price on shares of Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Susquehanna decreased their price objective on Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a report on Monday, May 6th. Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research note on Friday, May 31st. Finally, The Goldman Sachs Group decreased their price target on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a research note on Tuesday, June 4th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $90.96.

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.