Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,690,800.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $112.72, for a total transaction of $1,690,800.00. Following the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at $28,503,393.68. This trade represents a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Cloudflare Stock Performance

NYSE NET opened at $112.69 on Friday. The firm’s 50 day simple moving average is $98.69 and its 200 day simple moving average is $86.54. The firm has a market capitalization of $38.67 billion, a price-to-earnings ratio of -433.42 and a beta of 1.10. 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, Inc. has a 1 year low of $66.24 and a 1 year high of $119.42.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the topic of a number of research analyst reports. Scotiabank upped their target price on shares of Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. UBS Group raised their price objective on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Wells Fargo & Company boosted their target price on Cloudflare from $105.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Jefferies Financial Group raised their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday. Finally, BNP Paribas assumed coverage on shares of Cloudflare in a report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and an average price target of $97.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hartline Investment Corp increased its holdings in Cloudflare by 7.6% in the third quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after purchasing an additional 18,426 shares during the period. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare in the third quarter valued at $25,588,000. Charles Schwab Investment Management Inc. increased its position in Cloudflare by 2.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock valued at $93,656,000 after buying an additional 29,960 shares in the last quarter. National Pension Service lifted its holdings in shares of Cloudflare by 0.9% in the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Cloudflare during the second quarter valued at about $7,319,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.