Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction dated Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares of the company’s stock, valued at approximately $29,453,572.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cloudflare Trading Down 3.0 %

Shares of Cloudflare stock opened at $84.10 on Friday. The company’s 50-day moving average price is $96.38 and its 200-day moving average price is $81.78. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 12-month low of $39.90 and a 12-month high of $116.00. The company has a market cap of $28.40 billion, a price-to-earnings ratio of -152.91 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 (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. On average, equities analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. lifted their target price on Cloudflare from $53.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Cantor Fitzgerald reiterated a “neutral” rating and issued a $100.00 target price on shares of Cloudflare in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Cloudflare from $95.00 to $125.00 and gave the stock an “overweight” rating in a research note on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a report on Tuesday, February 13th. Finally, Capital One Financial initiated coverage on Cloudflare in a report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price objective for the company. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $87.08.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently modified their holdings of NET. Moneta Group Investment Advisors LLC boosted its stake in shares of Cloudflare by 131,133.8% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company’s stock valued at $274,583,000 after purchasing an additional 6,068,873 shares in the last quarter. Norges Bank purchased a new stake in Cloudflare during the fourth quarter valued at about $124,592,000. 1832 Asset Management L.P. grew its stake in shares of Cloudflare by 121.2% during the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock valued at $242,836,000 after buying an additional 1,597,900 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Cloudflare by 215.1% in the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company’s stock worth $82,927,000 after buying an additional 918,096 shares during the period. Finally, Vanguard Group Inc. lifted its stake in shares of Cloudflare by 2.7% in the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.