Cloudflare, Inc. (NYSE:NET) COO Sells $5,230,560.00 in Stock

Cloudflare, Inc. (NYSE:NETGet Free Report) COO Michelle Zatlyn sold 64,100 shares of the firm’s stock in a transaction dated Monday, October 7th. The shares were sold at an average price of $81.60, for a total value of $5,230,560.00. Following the transaction, the chief operating officer now directly owns 192,177 shares of the company’s stock, valued at $15,681,643.20. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

  • On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $82.60, for a total transaction of $2,117,864.00.
  • 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 transaction of $976,114.80.
  • On Monday, September 9th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.13, for a total transaction of $988,806.60.
  • 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 value of $2,940,697.58.

Cloudflare Stock Up 8.8 %

NET opened at $92.46 on Friday. Cloudflare, Inc. has a twelve month low of $53.88 and a twelve month high of $116.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The business has a 50 day moving average price of $80.60 and a 200 day moving average price of $81.20. The firm has a market cap of $31.42 billion, a P/E ratio of -174.45 and a beta of 1.10.

Cloudflare (NYSE:NETGet Free Report) last posted its earnings results on Thursday, August 1st. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.14 by $0.06. The business had revenue of $401.00 million for the quarter, compared to analyst estimates of $394.11 million. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. During the same period last year, the business posted ($0.12) EPS. Cloudflare’s revenue was up 30.0% compared to the same quarter last year. Research analysts forecast that Cloudflare, Inc. will post -0.13 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on NET shares. Piper Sandler upped their target price on Cloudflare from $82.00 to $83.00 and gave the company a “neutral” rating in a report on Friday, August 2nd. Morgan Stanley reiterated an “equal weight” rating and issued a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. UBS Group raised shares of Cloudflare from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $76.00 to $82.00 in a research report on Tuesday, June 25th. Mizuho raised their price objective on shares of Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Robert W. Baird boosted their target price on shares of Cloudflare from $94.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $91.20.

View Our Latest Report on Cloudflare

Institutional Trading of Cloudflare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after acquiring an additional 740,914 shares during the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Cloudflare during the 2nd quarter worth about $7,319,000. Los Angeles Capital Management LLC raised its position in shares of Cloudflare by 140.8% during the first quarter. Los Angeles Capital Management LLC now owns 453,651 shares of the company’s stock valued at $43,927,000 after buying an additional 265,281 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in Cloudflare by 20.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 875,183 shares of the company’s stock worth $84,745,000 after buying an additional 149,866 shares in the last quarter. Finally, Swiss National Bank grew its position in Cloudflare by 2.0% during the first quarter. Swiss National Bank now owns 886,900 shares of the company’s stock worth $85,879,000 after buying an additional 17,700 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

(Get Free Report)

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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