Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,648,500.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Wednesday, December 4th. The stock was sold at an average price of $109.90, for a total value of $1,648,500.00. Following the sale, the chief financial officer now owns 252,869 shares of the company’s stock, valued at approximately $27,790,303.10. The trade was a 5.60 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cloudflare Price Performance

NET opened at $112.96 on Friday. The company has a market capitalization of $38.77 billion, a price-to-earnings ratio of -434.46 and a beta of 1.10. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm has a 50-day moving average price of $92.76 and a 200-day moving average price of $83.65. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share 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 net margin of 5.97% and a negative return on equity of 7.18%. Equities analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NET. Piper Sandler increased their price target on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. BNP Paribas began coverage on Cloudflare in a report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price target for the company. Mizuho increased their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Scotiabank increased their price objective on shares of Cloudflare from $85.00 to $87.00 and gave the stock a “sector perform” rating in a research report on Friday, November 8th. Finally, UBS Group increased their price objective 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. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $94.40.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the company. Tidal Investments LLC grew its stake 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 acquiring an additional 3,550 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Cloudflare during the third quarter valued at approximately $204,000. Sanctuary Advisors LLC grew its stake in Cloudflare by 37.2% during the third quarter. Sanctuary Advisors LLC now owns 14,133 shares of the company’s stock valued at $1,143,000 after acquiring an additional 3,835 shares in the last quarter. Virtu Financial LLC purchased a new position in Cloudflare during the third quarter valued at approximately $1,268,000. Finally, Advisory Resource Group grew its stake in Cloudflare by 1.6% during the third quarter. Advisory Resource Group now owns 12,611 shares of the company’s stock valued at $1,020,000 after acquiring an additional 195 shares in the last quarter. Hedge funds and other institutional investors 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.