Thomas J. Seifert Sells 33,864 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 33,864 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $119.40, for a total transaction of $4,043,361.60. Following the completion of the sale, the chief financial officer now owns 252,869 shares in the company, valued at $30,192,558.60. This represents a 11.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Cloudflare Trading Up 2.7 %

Cloudflare stock opened at $123.03 on Thursday. The stock has a 50-day simple moving average of $109.35 and a 200 day simple moving average of $92.22. The stock has a market capitalization of $42.22 billion, a P/E ratio of -473.20 and a beta of 1.10. 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, Inc. has a 52 week low of $66.24 and a 52 week high of $123.13.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to the consensus estimate of $423.65 million. Analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Large investors have recently modified their holdings of the stock. CVA Family Office LLC raised its holdings in Cloudflare by 121.3% in the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after acquiring an additional 171 shares during the period. Quarry LP grew its position 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 purchasing an additional 146 shares during the last quarter. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the third quarter worth approximately $38,000. Quest Partners LLC acquired a new stake in Cloudflare during the 3rd quarter worth approximately $54,000. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% in the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Royal Bank of Canada upped their target price on shares of Cloudflare from $99.00 to $123.00 and gave the company an “outperform” rating in a research note on Friday, January 3rd. Scotiabank raised their price objective on Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research note on Tuesday. Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and boosted their target price for the company from $95.00 to $145.00 in a research note on Friday, January 17th. Jefferies Financial Group lifted their price objective on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Finally, Wells Fargo & Company increased their target price on Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $108.32.

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.