Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 12,820 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of the stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $77.13, for a total value of $988,806.60. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $14,822,612.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• 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 value of $976,114.80.
• 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.
• On Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $85.28, for a total value of $2,186,579.20.
• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.51, for a total value of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.54, for a total value of $994,062.80.

Cloudflare Price Performance

Shares of NYSE:NET traded up $1.75 during trading on Wednesday, reaching $78.56. 2,335,324 shares of the company’s stock traded hands, compared to its average volume of 3,323,476. Cloudflare, Inc. has a fifty-two week low of $53.88 and a fifty-two week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The firm has a market cap of $26.69 billion, a PE ratio of -147.96 and a beta of 1.10. The company has a 50-day simple moving average of $80.09 and a 200-day simple moving average of $83.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. During the same period last year, the firm earned ($0.12) EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. As a group, analysts predict that Cloudflare, Inc. will post -0.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. lifted its stake in Cloudflare by 30.2% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 7,009 shares of the company’s stock valued at $581,000 after buying an additional 1,624 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in Cloudflare in the 2nd quarter worth approximately $906,000. Teachers Retirement System of The State of Kentucky lifted its stake in Cloudflare by 13.5% in the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 192,381 shares of the company’s stock worth $15,935,000 after purchasing an additional 22,900 shares in the last quarter. 3Chopt Investment Partners LLC purchased a new position in Cloudflare in the 2nd quarter worth approximately $538,000. Finally, B. Riley Wealth Advisors Inc. lifted its stake in Cloudflare by 67.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 6,600 shares of the company’s stock worth $547,000 after purchasing an additional 2,664 shares in the last quarter. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on NET. Wolfe Research began coverage on Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating for the company. The Goldman Sachs Group decreased their price objective on Cloudflare from $77.00 to $68.00 and set a “sell” rating for the company in a report on Tuesday, June 4th. Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Susquehanna increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a report on Monday, August 5th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Three equities research 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 MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $92.29.

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.