Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $84.97, for a total value of $1,274,550.00. Following the transaction, the chief financial officer now owns 309,937 shares of the company’s stock, valued at approximately $26,335,346.89. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cloudflare Trading Down 0.6 %

Shares of NET stock opened at $84.53 on Friday. The firm has a 50 day moving average price of $76.71 and a two-hundred day moving average price of $85.43. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The company has a market capitalization of $28.72 billion, a PE ratio of -159.49 and a beta of 1.10. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00.

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

Institutional Investors Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently made changes to their positions in NET. Norges Bank acquired a new stake in shares of Cloudflare in the fourth quarter valued at approximately $221,858,000. 1832 Asset Management L.P. raised its position in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after buying an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after buying an additional 740,914 shares in the last quarter. Capital World Investors raised its position in shares of Cloudflare by 2.1% in the first 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 shares of Cloudflare in the first quarter valued at approximately $37,740,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NET has been the subject of a number of research reports. KeyCorp lowered their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Needham & Company LLC restated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, May 31st. Royal Bank of Canada decreased their price objective on Cloudflare from $108.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, May 31st. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 price objective for the company in a report on Tuesday, May 7th. Finally, Mizuho decreased their price objective on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average target price of $90.96.

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.