Insider Selling: Cloudflare, Inc. (NYSE:NET) CFO Sells $1,305,300.00 in Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of Cloudflare stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.02, for a total value of $1,305,300.00. Following the completion of the sale, the chief financial officer now owns 338,469 shares in the company, valued at $29,453,572.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cloudflare Trading Down 3.0 %

Shares of NYSE:NET opened at $84.10 on Monday. The company has a market cap of $28.40 billion, a P/E ratio of -152.91 and a beta of 1.12. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The stock’s fifty day moving average price is $96.38 and its 200-day moving average price is $82.10.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative return on equity of 15.92% and a negative net margin of 14.19%. The firm had revenue of $362.47 million for the quarter, compared to the consensus estimate of $352.70 million. Sell-side analysts expect that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Riverview Trust Co bought a new position in Cloudflare in the first quarter valued at about $27,000. Allspring Global Investments Holdings LLC lifted its holdings in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after acquiring an additional 238 shares during the period. Sunbelt Securities Inc. bought a new position in Cloudflare in the first quarter valued at about $29,000. ICA Group Wealth Management LLC bought a new position in Cloudflare in the fourth quarter valued at about $38,000. Finally, GAMMA Investing LLC bought a new position in Cloudflare in the fourth quarter valued at about $39,000. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. JMP Securities lifted their price target on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research report on Wednesday, January 31st. Wells Fargo & Company lifted their price target on Cloudflare from $95.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday, February 9th. JPMorgan Chase & Co. lifted their price target on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 price target on shares of Cloudflare in a research report on Wednesday, April 17th. Finally, Mizuho dropped their price target on Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday, April 15th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Cloudflare presently has a consensus rating of “Hold” and a consensus target price of $87.08.

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.