Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn Sells 12,820 Shares

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction on Monday, September 9th. The shares were sold at an average price of $77.13, for a total value of $988,806.60. Following the completion of the sale, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at approximately $14,822,612.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, September 11th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $76.14, for a total value of $976,114.80.
• On Thursday, August 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $81.91, for a total transaction of $2,100,172.40.
• On Tuesday, August 20th, Michelle Zatlyn sold 35,117 shares of Cloudflare stock. The shares were sold at an average price of $83.74, for a total transaction of $2,940,697.58.
• On Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $85.28, for a total transaction of $2,186,579.20.
• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The stock was sold at an average price of $82.52, for a total value of $8,464,901.60.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $78.51, for a total value of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $77.54, for a total value of $994,062.80.

Cloudflare Price Performance

NET opened at $78.56 on Thursday. The company has a market capitalization of $26.69 billion, a P/E ratio of -148.22 and a beta of 1.10. The company has a 50-day moving average of $80.09 and a 200-day moving average of $83.37. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, August 1st. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.06. Cloudflare had a negative return on equity of 8.54% and a negative net margin of 6.90%. The firm had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. During the same period in the previous year, the company earned ($0.12) earnings per share. Cloudflare’s quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts expect that Cloudflare, Inc. will post -0.14 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Guggenheim increased their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research report on Friday, August 2nd. Wolfe Research initiated coverage on shares of Cloudflare in a report on Tuesday, July 16th. They set a “peer perform” rating on the stock. UBS Group upgraded Cloudflare from a “sell” rating to a “neutral” rating and increased their price target for the company from $76.00 to $82.00 in a report on Tuesday, June 25th. Finally, Piper Sandler boosted their price objective on Cloudflare from $82.00 to $83.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $92.29.

Hedge Funds Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Riverview Trust Co bought a new position in shares of Cloudflare in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC raised its stake in Cloudflare by 595.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the period. Quarry LP raised its stake in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after acquiring an additional 146 shares during the period. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Cloudflare in the second quarter valued at approximately $29,000. Finally, Versant Capital Management Inc grew its holdings in shares of Cloudflare by 1,202.9% during the second quarter. Versant Capital Management Inc now owns 456 shares of the company’s stock valued at $38,000 after purchasing an additional 421 shares during 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.