Insider Selling: Cloudflare (NYSE:NET) Insider Sells $4,429,739.16 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the stock in a transaction dated Monday, February 23rd. The stock was sold at an average price of $172.76, for a total value of $4,429,739.16. Following the sale, the insider directly owned 34,514 shares in the company, valued at $5,962,638.64. This trade represents a 42.62% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $192.66, for a total value of $4,939,995.06.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total value of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $190.05, for a total transaction of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $187.96, for a total transaction of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $208.61, for a total transaction of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total transaction of $5,260,251.15.

Cloudflare Trading Up 4.9%

Cloudflare stock opened at $171.92 on Thursday. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. Cloudflare, Inc. has a fifty-two week low of $89.42 and a fifty-two week high of $260.00. The stock has a market cap of $60.22 billion, a P/E ratio of -592.79 and a beta of 1.97. The firm’s fifty day moving average price is $186.72 and its 200-day moving average price is $203.34.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.27 by $0.01. The company had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.40% and a negative net margin of 4.72%.The firm’s quarterly revenue was up 33.6% on a year-over-year basis. During the same quarter last year, the company earned $0.19 earnings per share. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NET shares. Stifel Nicolaus raised their target price on shares of Cloudflare from $230.00 to $275.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Cantor Fitzgerald reissued a “neutral” rating and issued a $224.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. New Street Research set a $140.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, February 13th. Finally, Piper Sandler raised their price target on Cloudflare from $220.00 to $222.00 and gave the company a “neutral” rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $230.70.

Institutional Trading of Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rakuten Investment Management Inc. bought a new stake in Cloudflare during the 3rd quarter valued at $138,660,000. Allianz Asset Management GmbH increased its position in shares of Cloudflare by 322.4% in the third quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company’s stock valued at $13,987,000 after acquiring an additional 49,749 shares during the period. National Pension Service raised its stake in shares of Cloudflare by 1.0% during the third quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after acquiring an additional 5,939 shares during the last quarter. Westfield Capital Management Co. LP bought a new position in Cloudflare during the 2nd quarter valued at approximately $87,868,000. Finally, Swedbank AB lifted its holdings in Cloudflare by 27.7% in the 3rd quarter. Swedbank AB now owns 43,878 shares of the company’s stock worth $9,416,000 after buying an additional 9,527 shares during the period. Institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.