Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $3,739,433.60 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 31,136 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $120.10, for a total transaction of $3,739,433.60. Following the completion of the transaction, the chief financial officer now directly owns 252,869 shares of the company’s stock, valued at approximately $30,369,566.90. The trade was a 10.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Cloudflare Trading Up 0.6 %

NYSE:NET opened at $123.89 on Friday. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a market capitalization of $42.52 billion, a price-to-earnings ratio of -476.49 and a beta of 1.10. The firm has a fifty day simple moving average of $109.35 and a two-hundred day simple moving average of $92.22. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $124.64.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The business had revenue of $430.08 million during the quarter, compared to analysts’ expectations of $423.65 million. Analysts expect that Cloudflare, Inc. will post -0.1 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. CVA Family Office LLC lifted its stake in shares of Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares in the last quarter. Quarry LP lifted its stake in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare in the third quarter valued at $38,000. Versant Capital Management Inc lifted its stake in shares of Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after buying an additional 217 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of several research reports. Piper Sandler increased their price objective on shares of Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Royal Bank of Canada upped their price target on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research report on Friday, January 3rd. Mizuho upped their price target on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. BNP Paribas began coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price target for the company. Finally, Citigroup upgraded shares of Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $145.00 in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $108.32.

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.