Michelle Zatlyn Sells 18,955 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 18,955 shares of the company’s stock in a transaction that occurred on Thursday, April 18th. The shares were sold at an average price of $87.07, for a total value of $1,650,411.85. Following the completion of the transaction, the chief operating officer now directly owns 19,615 shares in the company, valued at approximately $1,707,878.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Michelle Zatlyn also recently made the following trade(s):

• On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total value of $2,299,651.60.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $101.02, for a total value of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $97.96, for a total transaction of $2,511,694.40.
• On Tuesday, February 20th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $96.32, for a total transaction of $2,469,644.80.
• On Thursday, February 15th, Michelle Zatlyn sold 277,376 shares of Cloudflare stock. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92.
• On Friday, January 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.68, for a total transaction of $1,008,677.60.

Cloudflare Stock Performance

Shares of NET stock opened at $84.10 on Friday. The business’s 50-day moving average price is $96.38 and its 200-day moving average price is $81.78. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of -152.90 and a beta of 1.12.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analyst estimates of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Equities research analysts forecast that Cloudflare, Inc. will post -0.2 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NET shares. Wells Fargo & Company increased their price target on Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Capital One Financial started coverage on Cloudflare in a research report on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price target on the stock. JPMorgan Chase & Co. upped their price objective on shares of Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 9th. Royal Bank of Canada raised their target price on shares of Cloudflare from $95.00 to $108.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, Mizuho cut their price target on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating for the company in a report on Monday, April 15th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $87.08.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Riverview Trust Co bought a new stake in shares of Cloudflare in the 1st quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its stake in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. ICA Group Wealth Management LLC bought a new stake in Cloudflare in the fourth quarter valued at approximately $38,000. GAMMA Investing LLC acquired a new stake in Cloudflare during the 4th quarter valued at approximately $39,000. Finally, Sunbelt Securities Inc. bought a new position in Cloudflare during the 1st quarter worth approximately $29,000. 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.