Cloudflare (NYSE:NET) Insider Michelle Zatlyn Sells 25,641 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the business’s stock in a transaction dated Wednesday, April 22nd. The shares were sold at an average price of $209.15, for a total value of $5,362,815.15. Following the transaction, the insider owned 34,514 shares in the company, valued at approximately $7,218,603.10. This represents a 42.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, April 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $199.37, for a total value of $5,112,046.17.
• On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $189.50, for a total value of $4,858,969.50.
• On Tuesday, March 3rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $174.61, for a total value of $4,477,175.01.
• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $172.76, for a total value of $4,429,739.16.
• 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.

Cloudflare Stock Up 0.1%

Shares of NYSE:NET opened at $207.85 on Thursday. Cloudflare, Inc. has a 1 year low of $112.12 and a 1 year high of $260.00. The company has a market cap of $73.16 billion, a PE ratio of -716.70 and a beta of 1.87. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98. The stock’s 50-day moving average is $198.01 and its 200 day moving average is $200.63.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. During the same quarter in the previous year, the business earned $0.19 EPS. Cloudflare’s revenue was up 33.6% compared to the same quarter last year. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Trading of Cloudflare

Several large investors have recently bought and sold shares of NET. HM Payson & Co. bought a new stake in shares of Cloudflare in the 4th quarter worth approximately $25,000. Physician Wealth Advisors Inc. boosted its position in shares of Cloudflare by 693.3% in the 3rd quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock worth $26,000 after purchasing an additional 104 shares in the last quarter. Wiser Advisor Group LLC bought a new stake in shares of Cloudflare in the 3rd quarter worth approximately $26,000. Westside Investment Management Inc. boosted its position in shares of Cloudflare by 100.0% in the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock worth $28,000 after purchasing an additional 65 shares in the last quarter. Finally, ORG Wealth Partners LLC boosted its position in shares of Cloudflare by 101.4% in the 3rd quarter. ORG Wealth Partners LLC now owns 139 shares of the company’s stock worth $30,000 after purchasing an additional 70 shares in the last quarter. 82.68% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on NET shares. Zacks Research raised Cloudflare from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Mizuho cut their price objective on Cloudflare from $255.00 to $235.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 14th. Royal Bank Of Canada lifted their price objective on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. BTIG Research lifted their price objective on Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a research report on Wednesday, February 11th. Finally, DZ Bank raised Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a research report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Cloudflare has an average rating of “Moderate Buy” and an average target price of $232.62.

About Cloudflare

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.