Thomas J. Seifert Sells 28,635 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 28,635 shares of the firm’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $95.03, for a total value of $2,721,184.05. Following the transaction, the chief financial officer now owns 252,869 shares in the company, valued at approximately $24,030,141.07. This represents a 10.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cloudflare Trading Up 4.5 %

Cloudflare stock opened at $96.42 on Wednesday. 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, Inc. has a 52 week low of $66.24 and a 52 week high of $116.00. The company has a market capitalization of $33.09 billion, a price-to-earnings ratio of -370.85 and a beta of 1.10. The stock has a 50-day moving average price of $86.83 and a 200 day moving average price of $80.96.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The firm had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Toronto Dominion Bank lifted its holdings in Cloudflare by 30.1% in the third quarter. Toronto Dominion Bank now owns 37,158 shares of the company’s stock valued at $3,006,000 after acquiring an additional 8,596 shares during the period. Geode Capital Management LLC lifted its holdings in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in Cloudflare by 5.0% in the third quarter. Nomura Asset Management Co. Ltd. now owns 83,680 shares of the company’s stock valued at $6,769,000 after acquiring an additional 4,000 shares during the period. Y Intercept Hong Kong Ltd acquired a new position in Cloudflare in the third quarter valued at approximately $919,000. Finally, National Bank of Canada FI lifted its holdings in Cloudflare by 17.9% in the third quarter. National Bank of Canada FI now owns 8,292 shares of the company’s stock valued at $671,000 after acquiring an additional 1,261 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NET has been the topic of several research reports. UBS Group raised their price target on Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Guggenheim lifted their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research note on Friday, August 2nd. Wells Fargo & Company lifted their target price on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a research note on Friday, August 2nd. Finally, Robert W. Baird lifted their target price on Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $92.88.

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.