Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $4,640,874.45 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $162.07, for a total transaction of $4,640,874.45. Following the transaction, the chief financial officer now owns 293,582 shares of the company’s stock, valued at approximately $47,580,834.74. This represents a 8.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Cloudflare Stock Down 2.9 %

Shares of NYSE NET opened at $151.83 on Friday. The firm has a market cap of $52.11 billion, a PE ratio of -690.12 and a beta of 1.12. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. The company’s fifty day simple moving average is $130.11 and its 200 day simple moving average is $103.08. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP bought a new position in Cloudflare during the third quarter worth $38,000. Quarry LP lifted its stake in shares of Cloudflare by 38.6% in the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the fourth quarter valued at $43,000. Quest Partners LLC bought a new position in shares of Cloudflare in the third quarter valued at $54,000. Finally, Larson Financial Group LLC lifted its stake in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after buying an additional 517 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday, February 7th. Scotiabank upped their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the stock a “sector perform” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upped their price objective on shares of Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Needham & Company LLC reiterated a “buy” rating and set a $185.00 price objective on shares of Cloudflare in a research report on Tuesday. Finally, Mizuho upped their price objective on shares of Cloudflare from $130.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $136.28.

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.