Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 15,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 15,000 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $73.97, for a total transaction of $1,109,550.00. Following the transaction, the chief financial officer now directly owns 338,469 shares in the company, valued at approximately $25,036,551.93. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Cloudflare Stock Down 0.1 %

Shares of NET stock opened at $74.29 on Tuesday. Cloudflare, Inc. has a one year low of $44.60 and a one year high of $116.00. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. The stock has a fifty day moving average price of $93.17 and a 200 day moving average price of $83.83. The stock has a market cap of $25.08 billion, a P/E ratio of -140.17 and a beta of 1.15.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 12.78%. Analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Robert W. Baird cut their price target on shares of Cloudflare from $100.00 to $94.00 and set an “outperform” rating on the stock in a report on Friday. UBS Group decreased their price target on Cloudflare from $88.00 to $76.00 and set a “sell” rating for the company in a research note on Friday. JMP Securities raised their price objective on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. Sanford C. Bernstein started coverage on Cloudflare in a research report on Thursday, January 18th. They set a “market perform” rating and a $85.00 target price for the company. Finally, JPMorgan Chase & Co. dropped their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $90.13.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Cloudflare by 302.5% during the 1st quarter. SG Americas Securities LLC now owns 25,174 shares of the company’s stock worth $2,438,000 after buying an additional 18,919 shares during the period. Empowered Funds LLC lifted its holdings in shares of Cloudflare by 24.3% during the first quarter. Empowered Funds LLC now owns 3,528 shares of the company’s stock valued at $342,000 after acquiring an additional 689 shares during the period. AIA Group Ltd lifted its holdings in shares of Cloudflare by 33.4% during the first quarter. AIA Group Ltd now owns 23,352 shares of the company’s stock valued at $2,261,000 after acquiring an additional 5,848 shares during the period. Quantbot Technologies LP acquired a new stake in shares of Cloudflare in the 1st quarter valued at $729,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of Cloudflare by 13.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 13,457 shares of the company’s stock worth $1,303,000 after purchasing an additional 1,583 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

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.