Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells 20,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 20,000 shares of Cloudflare stock in a transaction that occurred on Tuesday, June 8th. The shares were sold at an average price of $89.48, for a total transaction of $1,789,600.00. Following the completion of the sale, the chief financial officer now owns 70,156 shares of the company’s stock, valued at approximately $6,277,558.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Shares of Cloudflare stock traded up $3.34 on Thursday, reaching $93.47. 3,347,924 shares of the stock were exchanged, compared to its average volume of 4,292,907. Cloudflare, Inc. has a 1-year low of $27.92 and a 1-year high of $95.77. The company has a debt-to-equity ratio of 0.49, a current ratio of 6.78 and a quick ratio of 6.78. The stock’s fifty day simple moving average is $77.16. The firm has a market capitalization of $29.03 billion, a price-to-earnings ratio of -220.29 and a beta of 0.03.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 6th. The company reported ($0.11) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.01). Cloudflare had a negative return on equity of 11.84% and a negative net margin of 26.49%. The firm had revenue of $138.06 million for the quarter, compared to analyst estimates of $131.26 million. On average, sell-side analysts anticipate that Cloudflare, Inc. will post -0.44 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of NET. Credit Agricole S A acquired a new position in Cloudflare during the first quarter worth about $26,000. Baldwin Brothers Inc. MA acquired a new position in Cloudflare during the first quarter worth about $32,000. Captrust Financial Advisors purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $33,000. Eudaimonia Partners LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $38,000. Finally, Invictus RG purchased a new stake in shares of Cloudflare in the fourth quarter valued at about $42,000. Institutional investors own 61.67% of the company’s stock.

Several equities analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Cloudflare from $88.00 to $91.00 and gave the stock an “equal weight” rating in a research note on Friday, May 7th. Truist Financial upgraded shares of Cloudflare from a “hold” rating to a “buy” rating in a research note on Tuesday, March 23rd. Zacks Investment Research downgraded shares of Cloudflare from a “hold” rating to a “sell” rating in a research note on Wednesday, May 19th. Truist upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and boosted their price target for the stock from $75.00 to $110.00 in a research note on Tuesday, March 23rd. Finally, Cowen started coverage on shares of Cloudflare in a research report on Wednesday, May 26th. They set an “outperform” rating and a $100.00 price objective for the company. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company. Cloudflare presently has an average rating of “Buy” and a consensus price target of $81.17.

Cloudflare Company Profile

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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