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 company’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total value of $1,187,850.00. Following the completion of the sale, the chief financial officer now directly owns 281,403 shares in the company, valued at approximately $22,284,303.57. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cloudflare Stock Performance

Shares of NET traded up $3.99 on Friday, reaching $83.42. The company’s stock had a trading volume of 2,514,316 shares, compared to its average volume of 3,224,889. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The stock has a market capitalization of $28.35 billion, a P/E ratio of -149.83 and a beta of 1.10. 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 stock’s 50 day simple moving average is $79.81 and its two-hundred day simple moving average is $81.60.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period in the previous year, the company posted ($0.12) EPS. The firm’s revenue was up 30.0% on a year-over-year basis. Research analysts forecast that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on NET. Morgan Stanley reissued an “equal weight” rating and set a $92.00 price objective on shares of Cloudflare in a research note on Monday, June 17th. Susquehanna boosted their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Mizuho raised their price objective on Cloudflare from $88.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Cantor Fitzgerald lifted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Piper Sandler increased their target price on Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $92.29.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of the company. SG Americas Securities LLC increased its stake in Cloudflare by 45.4% in the 3rd quarter. SG Americas Securities LLC now owns 25,940 shares of the company’s stock worth $2,098,000 after buying an additional 8,099 shares in the last quarter. Newbridge Financial Services Group Inc. grew its position in shares of Cloudflare by 30.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 7,009 shares of the company’s stock worth $581,000 after purchasing an additional 1,624 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in Cloudflare during the 2nd quarter valued at approximately $906,000. Teachers Retirement System of The State of Kentucky lifted its holdings in Cloudflare by 13.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock worth $15,935,000 after purchasing an additional 22,900 shares in the last quarter. Finally, 3Chopt Investment Partners LLC bought a new position in Cloudflare in the 2nd quarter worth approximately $538,000. 82.68% of the stock is currently owned by institutional investors.

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.