Cloudflare, Inc. (NYSE:NET) Insider Sells $2,750,915.60 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $107.29, for a total transaction of $2,750,915.60. Following the completion of the sale, the insider now directly owns 413,413 shares of the company’s stock, valued at approximately $44,355,080.77. This trade represents a 5.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Thursday, April 17th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $109.03, for a total transaction of $2,795,529.20.
• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $117.34, for a total transaction of $3,008,597.60.
• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $130.85, for a total transaction 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 stock was 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 Performance

Shares of NET opened at $107.81 on Friday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The stock has a market capitalization of $37.20 billion, a P/E ratio of -490.03 and a beta of 1.59. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company’s fifty day moving average is $129.32 and its two-hundred day moving average is $113.82.

Cloudflare (NYSE:NET) last issued its earnings results 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 return on equity of 5.52% and a negative net margin of 4.72%. On average, sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of NET. Groupama Asset Managment purchased a new stake in shares of Cloudflare during the fourth quarter worth about $269,200,000. Norges Bank bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $249,544,000. American Century Companies Inc. increased 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 valued at $243,098,000 after purchasing an additional 1,017,399 shares during the period. Fred Alger Management LLC grew its stake in shares of Cloudflare by 856.3% in the fourth quarter. Fred Alger Management LLC now owns 934,286 shares of the company’s stock worth $100,604,000 after purchasing an additional 836,591 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in Cloudflare by 292.5% in the fourth 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 during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NET. Mizuho upgraded Cloudflare from a “neutral” rating to an “outperform” rating and set a $135.00 price objective for the company in a research note on Wednesday. Stifel Nicolaus lifted their price objective on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research note on Friday, February 7th. Oppenheimer began coverage on shares of Cloudflare in a research note on Thursday, March 20th. They issued an “outperform” rating and a $150.00 price objective on the stock. Morgan Stanley reduced their target price on shares of Cloudflare from $154.00 to $144.00 and set an “overweight” rating for the company in a report on Wednesday. Finally, Susquehanna increased their price target on Cloudflare from $95.00 to $170.00 and gave the stock a “neutral” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $134.84.

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.