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 company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $113.81, for a total transaction of $1,707,150.00. Following the completion of the sale, the chief financial officer now directly owns 252,869 shares in the company, valued at approximately $28,779,020.89. The trade was a 5.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Down 0.2 %

Shares of NYSE:NET opened at $113.77 on Wednesday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $119.42. The stock has a market cap of $39.05 billion, a P/E ratio of -437.58 and a beta of 1.10. The business has a fifty day moving average of $103.82 and a two-hundred day moving average of $89.73. 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 data on Thursday, November 7th. The company reported ($0.03) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. The firm had revenue of $430.08 million during the quarter, compared to analyst estimates of $423.65 million. On average, research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current year.

Institutional Trading of Cloudflare

Several institutional investors have recently made changes to their positions in NET. Allspring Global Investments Holdings LLC grew its position in Cloudflare by 13.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares during the period. Quarry LP grew its holdings in shares of Cloudflare by 38.6% during the 3rd quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after purchasing an additional 133 shares during the period. Elo Mutual Pension Insurance Co raised its holdings in Cloudflare by 0.5% in the 2nd quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock valued at $2,253,000 after buying an additional 136 shares during the period. OneDigital Investment Advisors LLC lifted its position in Cloudflare by 3.5% in the third quarter. OneDigital Investment Advisors LLC now owns 4,047 shares of the company’s stock valued at $327,000 after buying an additional 137 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after buying an additional 170 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Stifel Nicolaus upgraded Cloudflare from a “hold” rating to a “buy” rating and upped their target price for the stock from $95.00 to $136.00 in a research note on Tuesday, December 17th. BNP Paribas began coverage on Cloudflare in a research report on Tuesday, October 8th. They issued an “underperform” rating and a $65.00 price objective on the stock. Wells Fargo & Company raised their price objective on shares of Cloudflare from $110.00 to $135.00 and gave the stock an “overweight” rating in a research note on Tuesday. Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Finally, UBS Group lifted their price objective on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and an average price target of $102.30.

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.