Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 10,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 10,000 shares of Cloudflare stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $120.00, for a total transaction of $1,200,000.00. Following the completion of the transaction, the chief financial officer now owns 293,582 shares of the company’s stock, valued at $35,229,840. This represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Cloudflare Price Performance

NET stock opened at $118.95 on Monday. The firm’s 50-day moving average price is $136.73 and its two-hundred day moving average price is $110.24. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The stock has a market capitalization of $41.05 billion, a price-to-earnings ratio of -540.70 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Thoma Capital Management LLC purchased a new position in shares of Cloudflare during the fourth quarter valued at about $720,000. Wealth Enhancement Advisory Services LLC boosted its stake in Cloudflare by 22.5% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 30,652 shares of the company’s stock worth $3,301,000 after acquiring an additional 5,638 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in Cloudflare during the fourth quarter worth about $10,499,000. Centaurus Financial Inc. bought a new stake in Cloudflare during the fourth quarter worth about $129,000. Finally, Wealthedge Investment Advisors LLC bought a new stake in Cloudflare during the fourth quarter worth about $794,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on NET shares. Morgan Stanley started coverage on shares of Cloudflare in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Baird R W downgraded shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a report on Monday, February 3rd. Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and raised their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Finally, Wells Fargo & Company raised their price target on shares of Cloudflare from $135.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $131.64.

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.