Thomas J. Seifert Sells 15,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $86.79, for a total transaction of $1,301,850.00. Following the transaction, the chief financial officer now owns 281,403 shares in the company, valued at approximately $24,422,966.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Cloudflare Trading Up 1.4 %

Shares of NYSE NET opened at $87.68 on Wednesday. The stock has a market capitalization of $29.96 billion, a P/E ratio of -302.34 and a beta of 1.10. Cloudflare, Inc. has a 1-year low of $61.34 and a 1-year high of $116.00. The business’s 50 day moving average is $84.05 and its two-hundred day moving average is $80.50. The company has a debt-to-equity ratio of 1.46, a current ratio of 3.51 and a quick ratio of 3.51.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada raised their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Piper Sandler raised their price objective on shares of Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Susquehanna boosted their target price on shares of Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Mizuho increased their price target on shares of Cloudflare from $92.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, October 17th. Finally, Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare has a consensus rating of “Hold” and a consensus target price of $91.72.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently made changes to their positions in the company. CVA Family Office LLC lifted its stake in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after buying an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare during the 2nd quarter worth about $29,000. Quarry LP boosted its position in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after buying an additional 146 shares during the last quarter. Finally, Versant Capital Management Inc increased its stake in shares of Cloudflare by 1,202.9% in the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock worth $38,000 after acquiring an additional 421 shares during the period. 82.68% of the stock is currently owned by hedge funds and other 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.