Traders Purchase High Volume of Put Options on Cloudflare (NYSE:NET)

Cloudflare, Inc. (NYSE:NETGet Rating) was the target of unusually large options trading on Tuesday. Stock investors purchased 37,102 put options on the company. This is an increase of 80% compared to the typical daily volume of 20,584 put options.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Cloudflare from $74.00 to $60.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Cowen lowered their price target on shares of Cloudflare from $100.00 to $75.00 in a report on Friday, November 4th. Wells Fargo & Company raised shares of Cloudflare from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $62.00 to $65.00 in a report on Monday, October 17th. Mizuho lowered their price target on shares of Cloudflare from $65.00 to $60.00 and set a “neutral” rating on the stock in a report on Friday, November 4th. Finally, Macquarie initiated coverage on shares of Cloudflare in a report on Wednesday, November 2nd. They issued a “neutral” rating and a $60.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $90.84.

Cloudflare Stock Up 4.0 %

NET stock opened at $46.79 on Thursday. The company has a market cap of $15.38 billion, a price-to-earnings ratio of -66.84 and a beta of 1.08. The company has a current ratio of 5.35, a quick ratio of 5.35 and a debt-to-equity ratio of 2.42. Cloudflare has a 12 month low of $37.37 and a 12 month high of $205.79. The firm has a 50-day moving average of $52.86 and a two-hundred day moving average of $55.02.

Insider Transactions at Cloudflare

In other news, CEO Matthew Prince sold 52,384 shares of the company’s stock in a transaction on Friday, September 9th. The stock was sold at an average price of $65.98, for a total transaction of $3,456,296.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CFO Thomas J. Seifert sold 20,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $40.78, for a total transaction of $815,600.00. Following the sale, the chief financial officer now directly owns 86,433 shares of the company’s stock, valued at $3,524,737.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Matthew Prince sold 52,384 shares of the business’s stock in a transaction on Friday, September 9th. The shares were sold at an average price of $65.98, for a total transaction of $3,456,296.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 393,304 shares of company stock valued at $21,954,778. Corporate insiders own 15.99% of the company’s stock.

Institutional Trading of Cloudflare

A number of hedge funds have recently bought and sold shares of NET. National Asset Management Inc. raised its holdings in Cloudflare by 20.2% in the 1st quarter. National Asset Management Inc. now owns 4,633 shares of the company’s stock valued at $555,000 after acquiring an additional 779 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Cloudflare by 9.9% in the 1st quarter. Arizona State Retirement System now owns 71,395 shares of the company’s stock valued at $8,546,000 after buying an additional 6,460 shares during the period. Shell Asset Management Co. grew its stake in shares of Cloudflare by 5.5% in the 1st quarter. Shell Asset Management Co. now owns 8,454 shares of the company’s stock valued at $1,012,000 after buying an additional 442 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Cloudflare by 239.5% in the 1st quarter. Envestnet Asset Management Inc. now owns 197,381 shares of the company’s stock valued at $23,626,000 after buying an additional 139,243 shares during the period. Finally, Banque Pictet & Cie SA purchased a new stake in shares of Cloudflare in the 1st quarter valued at approximately $207,000. Institutional investors and hedge funds own 71.69% of the company’s stock.

Cloudflare Company Profile

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CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

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