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 stock in a transaction dated Thursday, October 3rd. The stock was sold at an average price of $79.19, for a total transaction of $1,187,850.00. Following the transaction, the chief financial officer now owns 281,403 shares of the company’s stock, valued at approximately $22,284,303.57. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Cloudflare Stock Performance

Shares of NYSE:NET opened at $83.43 on Friday. The company’s 50 day simple moving average is $79.91 and its 200 day simple moving average is $81.43. The stock has a market capitalization of $28.35 billion, a price-to-earnings ratio of -157.42 and a beta of 1.10. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data 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 business had revenue of $401.00 million for the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The firm’s quarterly revenue was up 30.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.12) earnings per share. As a group, research analysts predict that Cloudflare, Inc. will post -0.13 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

NET has been the subject of several recent analyst reports. Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research note on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a research note on Monday, June 17th. Royal Bank of Canada raised their target price on shares of Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Finally, Piper Sandler raised their target price on shares of Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, Cloudflare presently has an average rating of “Hold” and a consensus price target of $92.29.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after buying an additional 740,914 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new stake in shares of Cloudflare during the second quarter worth $7,319,000. Los Angeles Capital Management LLC grew its stake in shares of Cloudflare by 140.8% during the first quarter. Los Angeles Capital Management LLC now owns 453,651 shares of the company’s stock worth $43,927,000 after buying an additional 265,281 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after buying an additional 149,866 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado grew its stake in shares of Cloudflare by 558.4% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 31,457 shares of the company’s stock worth $2,619,000 after buying an additional 26,679 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

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.