Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,640 shares of the business’s stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $156.72, for a total value of $4,018,300.80. Following the transaction, the insider now directly owns 6,390 shares of the company’s stock, valued at approximately $1,001,440.80. This represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website.

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

• On Tuesday, May 20th, Michelle Zatlyn sold 35,098 shares of Cloudflare stock. The stock was sold at an average price of $156.83, for a total value of $5,504,419.34.
• On Thursday, April 17th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $109.03, for a total value of $2,795,529.20.
• On Tuesday, April 15th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $107.29, for a total value of $2,750,915.60.
• On Thursday, March 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $117.34, for a total value of $3,008,597.60.
• On Tuesday, March 25th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $130.85, for a total value of $3,354,994.00.
• On Friday, February 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.67, for a total value of $4,017,018.80.

Cloudflare Price Performance

Cloudflare stock opened at $158.45 on Friday. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The business has a 50 day simple moving average of $122.55 and a 200-day simple moving average of $122.11. The stock has a market capitalization of $54.68 billion, a PE ratio of -720.20 and a beta of 1.78.

Cloudflare (NYSE:NET) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.16 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million for the quarter, compared to analysts’ expectations of $469.49 million. During the same quarter last year, the company earned $0.16 EPS. Cloudflare’s revenue for the quarter was up 26.5% compared to the same quarter last year. Equities analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on NET shares. Morgan Stanley upped their price target on Cloudflare from $144.00 to $150.00 and gave the company an “overweight” rating in a report on Friday, May 9th. The Goldman Sachs Group lowered their price target on Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Stifel Nicolaus upped their price target on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Oppenheimer upped their price target on Cloudflare from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Friday, May 9th. Finally, Bank of America raised Cloudflare from an “underperform” rating to a “buy” rating and upped their price target for the company from $60.00 to $160.00 in a report on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $141.79.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. Mather Group LLC. raised its stake in shares of Cloudflare by 1,188.2% during the first quarter. Mather Group LLC. now owns 219 shares of the company’s stock worth $25,000 after purchasing an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter worth approximately $27,000. GPS Wealth Strategies Group LLC raised its stake in shares of Cloudflare by 213.4% during the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock worth $29,000 after purchasing an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its stake in shares of Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock worth $30,000 after purchasing an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd purchased a new stake in shares of Cloudflare during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.