Cloudflare, Inc. (NYSE:NET) Director Sells $605,000.00 in Stock

Cloudflare, Inc. (NYSE:NET) Director Maria S. Eitel sold 6,875 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.00, for a total value of $605,000.00. Following the sale, the director now directly owns 5,927 shares in the company, valued at approximately $521,576. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Cloudflare Stock Down 1.2 %

Shares of NYSE NET traded down $1.06 during mid-day trading on Monday, hitting $86.49. The company had a trading volume of 2,009,331 shares, compared to its average volume of 3,128,919. Cloudflare, Inc. has a one year low of $61.34 and a one year high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market capitalization of $29.55 billion, a PE ratio of -297.90 and a beta of 1.10. The firm has a 50-day simple moving average of $83.82 and a two-hundred day simple moving average of $80.48.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $394.11 million. During the same quarter in the previous year, the firm earned ($0.12) earnings per share. The business’s quarterly revenue was up 30.0% on a year-over-year basis. On average, equities analysts expect that Cloudflare, Inc. will post -0.13 EPS for the current year.

Analyst Ratings Changes

Several analysts recently issued reports on NET shares. Cantor Fitzgerald boosted their price target on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Mizuho upped their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on Cloudflare in a research note on Tuesday, July 16th. They set a “peer perform” rating for the company. Finally, Royal Bank of Canada boosted 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. Four research 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’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $91.72.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. CVA Family Office LLC grew its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP increased its holdings in Cloudflare by 73.4% in the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Cloudflare in the second quarter valued at about $29,000. Finally, Versant Capital Management Inc increased its position in Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after purchasing an additional 421 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.