Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells $976,114.80 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the business’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $76.14, for a total value of $976,114.80. Following the transaction, the chief operating officer now owns 192,177 shares in the company, valued at $14,632,356.78. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.13, for a total value of $988,806.60.
• On Thursday, August 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $81.91, for a total transaction of $2,100,172.40.
• On Tuesday, August 20th, Michelle Zatlyn sold 35,117 shares of Cloudflare stock. The stock was sold at an average price of $83.74, for a total transaction of $2,940,697.58.
• On Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $85.28, for a total transaction of $2,186,579.20.
• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60.
• 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 shares were sold at an average price of $77.54, for a total value of $994,062.80.

Cloudflare Stock Down 0.3 %

NET stock opened at $78.61 on Friday. Cloudflare, Inc. has a 52 week low of $53.88 and a 52 week 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 1.46. The firm has a 50-day simple moving average of $79.86 and a 200-day simple moving average of $83.30. The stock has a market capitalization of $26.71 billion, a P/E ratio of -148.32 and a beta of 1.10.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. Cloudflare’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. Equities analysts forecast that Cloudflare, Inc. will post -0.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Scotiabank assumed coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 target price for the company. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They issued a “peer perform” rating on the stock. Morgan Stanley reissued an “equal weight” rating and set a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. Guggenheim upped their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Finally, Royal Bank of Canada lifted their price objective on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $92.29.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Baillie Gifford & Co. grew its holdings in shares of Cloudflare by 8.5% during the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after buying an additional 2,575,396 shares in the last quarter. Vanguard Group Inc. grew its stake in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock valued at $2,766,632,000 after acquiring an additional 412,864 shares in the last quarter. Capital World Investors raised its holdings 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 acquiring an additional 584,566 shares during the last quarter. 1832 Asset Management L.P. lifted its stake in Cloudflare by 121.2% in the 4th 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. Finally, Norges Bank acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $221,858,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.