Cloudflare, Inc. (NYSE:NET) COO Sells $5,230,560.00 in Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 64,100 shares of Cloudflare stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00. Following the transaction, the chief operating officer now owns 192,177 shares of the company’s stock, valued at $15,681,643.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

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

• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total value of $2,117,864.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $76.14, for a total value of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were 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 stock was sold at an average price of $81.91, for a total value 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 value of $2,940,697.58.

Cloudflare Price Performance

Shares of NYSE:NET traded up $3.19 during trading on Wednesday, reaching $84.95. The company had a trading volume of 1,839,668 shares, compared to its average volume of 3,199,268. The firm’s fifty day moving average is $80.24 and its 200 day moving average is $81.12. The firm has a market capitalization of $28.87 billion, a PE ratio of -160.28 and a beta of 1.10. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. During the same period in the prior year, the business posted ($0.12) EPS. The business’s revenue for the quarter was up 30.0% compared to the same quarter last year. On average, equities analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current year.

Wall Street Analyst Weigh In

NET has been the topic of several recent research reports. Susquehanna boosted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Needham & Company LLC restated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a report on Friday, August 2nd. Cantor Fitzgerald boosted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Finally, Piper Sandler boosted their target price on Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $91.20.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Baillie Gifford & Co. lifted its position in shares of Cloudflare by 8.5% in the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock valued at $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Marshall Wace LLP increased its stake in Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after buying an additional 855,334 shares during the period. Vanguard Group Inc. increased its stake in Cloudflare by 2.7% in the 4th 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 during the period. Capital World Investors increased its stake 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 buying an additional 584,566 shares during the period. Finally, SpiderRock Advisors LLC acquired a new position in Cloudflare in the 1st quarter valued at approximately $37,740,000. 82.68% of the stock is owned by institutional investors and hedge funds.

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.