Cloudflare, Inc. (NYSE:NET – Get Free Report) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $78.36, for a total value of $1,175,400.00. Following the sale, the chief financial officer now directly owns 281,403 shares of the company’s stock, valued at approximately $22,050,739.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Cloudflare Stock Up 6.2 %
Shares of NYSE NET traded up $4.81 during midday trading on Thursday, hitting $82.90. The company’s stock had a trading volume of 3,410,128 shares, compared to its average volume of 3,276,901. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. The firm has a market capitalization of $28.17 billion, a price-to-earnings ratio of -147.34 and a beta of 1.10. The business’s fifty day simple moving average is $79.44 and its two-hundred day simple moving average is $82.64. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.
Cloudflare (NYSE:NET – Get Free Report) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same period last year, the firm earned ($0.12) earnings per share. The company’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts predict that Cloudflare, Inc. will post -0.12 EPS for the current year.
Analysts Set New Price Targets
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Institutional Investors Weigh In On Cloudflare
Institutional investors have recently modified their holdings of the company. Norges Bank purchased a new position in Cloudflare during the 4th quarter worth approximately $221,858,000. Baillie Gifford & Co. boosted its holdings in 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. 1832 Asset Management L.P. increased 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 valued at $242,836,000 after purchasing an additional 1,597,900 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Cloudflare by 123.4% during the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after buying an additional 855,334 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings 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 purchasing an additional 740,914 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.
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.
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