Cloudflare, Inc. (NYSE:NET – Get Free Report) COO Michelle Zatlyn sold 12,820 shares of Cloudflare stock in a transaction that occurred on Tuesday, June 18th. The shares were sold at an average price of $77.54, for a total value of $994,062.80. Following the completion of the sale, the chief operating officer now owns 211,394 shares in the company, valued at $16,391,490.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Michelle Zatlyn also recently made the following trade(s):
- On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.51, for a total value of $1,006,498.20.
- On Wednesday, May 22nd, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $74.08, for a total value of $949,705.60.
- On Monday, May 20th, Michelle Zatlyn sold 60,863 shares of Cloudflare stock. The shares were sold at an average price of $74.94, for a total transaction of $4,561,073.22.
- On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total transaction of $1,650,411.85.
- On Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $89.69, for a total value of $2,299,651.60.
Cloudflare Trading Down 1.7 %
NET opened at $79.28 on Thursday. The firm’s 50 day moving average is $77.01 and its 200-day moving average is $85.35. Cloudflare, Inc. has a 52-week low of $53.88 and a 52-week high of $116.00. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.61. The firm has a market capitalization of $26.94 billion, a P/E ratio of -149.58 and a beta of 1.08.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on NET shares. Susquehanna dropped their price target on Cloudflare from $115.00 to $80.00 and set a “neutral” rating for the company in a research report on Monday, May 6th. Morgan Stanley restated an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. TD Cowen lowered their price target on shares of Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a report on Friday, May 3rd. DZ Bank upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, May 7th. Finally, Bank of America boosted their price target on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $90.96.
Read Our Latest Stock Analysis on NET
Institutional Investors Weigh In On Cloudflare
Hedge funds have recently bought and sold shares of the business. Riverview Trust Co acquired a new stake in shares of Cloudflare during the first quarter worth approximately $27,000. Allspring Global Investments Holdings LLC grew its stake in 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 purchasing an additional 238 shares in the last quarter. ICA Group Wealth Management LLC bought a new stake in Cloudflare in the fourth quarter valued at about $38,000. GAMMA Investing LLC acquired a new stake in Cloudflare during the fourth quarter valued at approximately $39,000. Finally, Pingora Partners LLC bought a new position in Cloudflare during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 82.68% of the company’s stock.
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.
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