Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 35,118 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 35,118 shares of Cloudflare stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $105.30, for a total value of $3,697,925.40. Following the completion of the sale, the chief operating officer now owns 172,959 shares of the company’s stock, valued at approximately $18,212,582.70. The trade was a 16.88 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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

• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $100.44, for a total transaction of $2,575,281.60.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total transaction of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The shares were sold at an average price of $81.60, for a total transaction of $5,230,560.00.
• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $76.14, for a total transaction of $976,114.80.
• On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.13, for a total value of $988,806.60.

Cloudflare Stock Down 2.8 %

Cloudflare stock opened at $99.37 on Friday. The firm has a 50 day moving average price of $89.57 and a 200-day moving average price of $82.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00. The company has a market capitalization of $34.10 billion, a P/E ratio of -382.19 and a beta of 1.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. As a group, equities analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC lifted its holdings in Cloudflare by 18.0% during the third quarter. Tidal Investments LLC now owns 23,238 shares of the company’s stock valued at $1,880,000 after purchasing an additional 3,550 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Cloudflare during the 3rd quarter valued at approximately $204,000. Sanctuary Advisors LLC boosted its holdings in Cloudflare by 37.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock worth $1,143,000 after buying an additional 3,835 shares during the period. Virtu Financial LLC purchased a new position in Cloudflare in the 3rd quarter valued at approximately $1,268,000. Finally, Advisory Resource Group grew its stake in Cloudflare by 1.6% in the 3rd quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after buying an additional 195 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the subject of several recent research reports. Piper Sandler boosted their price objective on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Royal Bank of Canada upped their price objective on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Mizuho raised their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. UBS Group boosted their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Finally, Guggenheim raised their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $92.88.

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.