Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 25,640 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the firm’s stock in a transaction that occurred on Wednesday, January 22nd. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00. Following the completion of the sale, the chief operating officer now directly owns 172,959 shares in the company, valued at approximately $20,824,263.60. This trade represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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

• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $123.75, for a total transaction of $3,172,950.00.
• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40.
• On Tuesday, December 10th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $112.68, for a total value of $2,889,115.20.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The stock was sold at an average price of $105.30, for a total transaction of $3,697,925.40.

Cloudflare Stock Performance

Shares of Cloudflare stock opened at $125.19 on Friday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $125.71. The firm’s 50-day simple moving average is $110.70 and its 200-day simple moving average is $92.72. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last released its 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 return on equity of 7.18% and a negative net margin of 5.97%. The company had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Equities research analysts forecast that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Analyst Upgrades and Downgrades

NET has been the subject of a number of recent research reports. BNP Paribas started coverage on Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. Jefferies Financial Group boosted their price objective on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. UBS Group boosted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Cantor Fitzgerald assumed coverage on Cloudflare in a report on Friday, January 17th. They issued a “neutral” rating and a $111.00 price objective on the stock. Finally, Piper Sandler increased their target price on Cloudflare from $83.00 to $92.00 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $108.32.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NET. CVA Family Office LLC grew its holdings in shares of Cloudflare by 121.3% during the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the last quarter. Quarry LP grew its stake in Cloudflare by 73.4% during the 2nd quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Cloudflare in the third quarter worth $38,000. Quest Partners LLC acquired a new position in shares of Cloudflare during the third quarter valued at $54,000. Finally, Versant Capital Management Inc grew its position in shares of Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after acquiring an additional 170 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.

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.