Cloudflare, Inc. (NYSE:NET) CFO Sells $1,301,850.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $86.79, for a total value of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at $24,422,966.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Cloudflare Stock Down 1.2 %

NET opened at $86.49 on Tuesday. The company has a market capitalization of $29.55 billion, a PE ratio of -298.24 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $61.34 and a 1-year high of $116.00. The firm’s 50 day simple moving average is $83.92 and its two-hundred day simple moving average is $80.48. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Analyst Ratings Changes

NET has been the topic of a number of recent analyst reports. Piper Sandler increased their price target on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Royal Bank of Canada increased their price target on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Guggenheim increased their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $135.00 price target on shares of Cloudflare in a report on Friday, August 2nd. Finally, Robert W. Baird increased their price objective on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $91.72.

Institutional Trading of Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of NET. 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 valued at $27,000 after purchasing an additional 238 shares during the period. First Trust Direct Indexing L.P. bought a new stake in shares of Cloudflare during the 1st quarter valued at $295,000. Private Advisor Group LLC raised its position in shares of Cloudflare by 22.0% during the 1st quarter. Private Advisor Group LLC now owns 18,662 shares of the company’s stock valued at $1,807,000 after purchasing an additional 3,362 shares during the period. Sequoia Financial Advisors LLC purchased a new position in Cloudflare during the first quarter valued at $239,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Cloudflare by 13.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,185 shares of the company’s stock valued at $4,340,000 after acquiring an additional 5,392 shares in the last quarter. 82.68% of the stock is currently owned by 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.