Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of Cloudflare stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60. Following the completion of the transaction, the insider now owns 413,413 shares of the company’s stock, valued at approximately $48,509,881.42. The trade was a 5.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80.
• On Wednesday, February 19th, Michelle Zatlyn sold 35,099 shares of Cloudflare stock. The stock was sold at an average price of $164.84, for a total value of $5,785,719.16.
• On Friday, January 24th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $123.75, for a total value of $3,172,950.00.
• On Wednesday, January 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $120.40, for a total transaction of $3,087,056.00.

Cloudflare Stock Down 2.1 %

NYSE NET traded down $2.53 during mid-day trading on Thursday, hitting $118.62. The company’s stock had a trading volume of 2,272,713 shares, compared to its average volume of 3,037,333. 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 company’s 50 day simple moving average is $137.52 and its 200 day simple moving average is $111.05. The firm has a market capitalization of $40.93 billion, a price-to-earnings ratio of -539.17 and a beta of 1.27. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. Analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently modified their holdings of NET. Groupama Asset Managment purchased a new position in Cloudflare during the 4th quarter valued at about $269,200,000. Norges Bank bought a new position in shares of Cloudflare in the fourth quarter worth approximately $249,544,000. American Century Companies Inc. grew its stake in shares of Cloudflare by 82.0% in the fourth quarter. American Century Companies Inc. now owns 2,257,601 shares of the company’s stock worth $243,098,000 after purchasing an additional 1,017,399 shares during the last quarter. Fred Alger Management LLC increased its stake in shares of Cloudflare by 856.3% during the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock valued at $100,604,000 after buying an additional 836,591 shares during the period. Finally, Invesco Ltd. raised its holdings in Cloudflare by 292.5% in the 4th quarter. Invesco Ltd. now owns 1,078,921 shares of the company’s stock worth $116,178,000 after purchasing an additional 804,059 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

NET has been the subject of several recent analyst reports. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price objective for the company. in a report on Tuesday, February 11th. JMP Securities lifted their target price on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Jefferies Financial Group upped their price target on Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research report on Thursday, December 19th. Royal Bank of Canada reduced their target price on Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Finally, Scotiabank raised their target price on Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $135.64.

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.