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 Friday, October 18th. The shares were sold at an average price of $90.88, for a total value of $1,363,200.00. Following the completion of the sale, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $25,573,904.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cloudflare Price Performance

NET stock opened at $88.46 on Wednesday. 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 $30.06 billion, a P/E ratio of -166.91 and a beta of 1.10. The business’s 50-day moving average is $82.81 and its two-hundred day moving average is $80.75. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings results 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. The company had revenue of $401.00 million for 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 revenue for the quarter was up 30.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.12) EPS. Analysts anticipate that Cloudflare, Inc. will post -0.13 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently bought and sold shares of the stock. CVA Family Office LLC raised its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after acquiring an additional 171 shares in the last quarter. Riverview Trust Co acquired a new stake in shares of Cloudflare during the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its position in shares of Cloudflare by 595.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Cloudflare during the 2nd quarter worth about $29,000. Finally, Quarry LP raised its position in shares of Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of several analyst reports. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and upped their target price for the company from $76.00 to $82.00 in a report on Tuesday, June 25th. Royal Bank of Canada increased their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Mizuho increased their price target on Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Finally, Piper Sandler increased their price target on Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $91.72.

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.