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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $109.03, for a total transaction of $2,795,529.20. Following the completion of the transaction, the insider now owns 413,413 shares in the company, valued at approximately $45,074,419.39. The trade was a 5.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, April 15th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $107.29, for a total value of $2,750,915.60.
• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $117.34, for a total value of $3,008,597.60.
• 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 transaction of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $156.67, for a total transaction 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 transaction 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 value of $3,087,056.00.

Cloudflare Stock Performance

NYSE NET opened at $107.81 on Friday. The company’s 50 day moving average is $126.73 and its 200-day moving average is $114.45. The firm has a market cap of $37.20 billion, a P/E ratio of -490.03 and a beta of 1.59. Cloudflare, Inc. has a 12-month low of $66.24 and a 12-month high of $177.37. 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 announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Sell-side analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analysts Set New Price Targets

NET has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, February 7th. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price for the company. in a research report on Tuesday, February 11th. Cantor Fitzgerald raised their price target on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Piper Sandler decreased their price objective on Cloudflare from $131.00 to $112.00 and set a “neutral” rating for the company in a report on Tuesday, April 8th. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and raised their target price for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Cloudflare currently has a consensus rating of “Hold” and an average target price of $134.84.

Hedge Funds Weigh In On Cloudflare

A number of large investors have recently modified their holdings of the company. NBC Securities Inc. purchased a new stake in Cloudflare in the 1st quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its position in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after buying an additional 175 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after buying an additional 142 shares in the last quarter. Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare in the 4th quarter valued at about $43,000. Finally, Global Financial Private Client LLC grew its holdings in shares of Cloudflare by 38,100.0% during the first quarter. Global Financial Private Client LLC now owns 382 shares of the company’s stock worth $43,000 after purchasing an additional 381 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Company Profile

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.