Thomas J. Seifert Sells 10,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET – Get Rating) CFO Thomas J. Seifert sold 10,000 shares of the company’s stock in a transaction on Tuesday, April 12th. The stock was sold at an average price of $115.06, for a total transaction of $1,150,600.00. Following the completion of the transaction, the chief financial officer now owns 86,433 shares of the company’s stock, valued at $9,944,980.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

NET opened at $113.98 on Friday. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt-to-equity ratio of 1.41. Cloudflare, Inc. has a 1-year low of $64.84 and a 1-year high of $221.64. The firm’s 50 day simple moving average is $108.90 and its two-hundred day simple moving average is $134.23.

Cloudflare (NYSE:NET – Get Rating) last released its quarterly earnings results on Thursday, February 10th. The company reported ($0.13) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.09) by ($0.04). Cloudflare had a negative return on equity of 15.45% and a negative net margin of 39.65%. The business had revenue of $193.60 million during the quarter, compared to the consensus estimate of $184.79 million. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.36 earnings per share for the current fiscal year.

NET has been the subject of several recent research reports. Stifel Europe boosted their price target on shares of Cloudflare from $113.00 to $128.00 and gave the stock a “hold” rating in a research note on Monday, February 14th. Zacks Investment Research downgraded shares of Cloudflare from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho boosted their price target on shares of Cloudflare from $120.00 to $135.00 and gave the stock a “neutral” rating in a research note on Friday, February 11th. Stifel Nicolaus lowered their price target on shares of Cloudflare from $126.00 to $120.00 and set a “hold” rating for the company in a research note on Monday, March 21st. Finally, Credit Suisse Group upped their price objective on shares of Cloudflare from $140.00 to $150.00 and gave the company an “outperform” rating in a research note on Friday, February 11th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $151.39.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NET. Morgan Stanley raised its position in shares of Cloudflare by 120.2% during the 2nd quarter. Morgan Stanley now owns 28,729,894 shares of the company’s stock valued at $3,040,771,000 after purchasing an additional 15,680,274 shares during the period. Assenagon Asset Management S.A. purchased a new position in Cloudflare during the third quarter valued at $274,000. Jackson Square Capital LLC grew its stake in Cloudflare by 0.6% during the third quarter. Jackson Square Capital LLC now owns 63,615 shares of the company’s stock valued at $7,166,000 after acquiring an additional 402 shares in the last quarter. Spire Wealth Management grew its stake in Cloudflare by 35.4% during the third quarter. Spire Wealth Management now owns 268 shares of the company’s stock valued at $30,000 after acquiring an additional 70 shares in the last quarter. Finally, Westpac Banking Corp grew its stake in Cloudflare by 234.0% during the third quarter. Westpac Banking Corp now owns 78,181 shares of the company’s stock valued at $8,807,000 after acquiring an additional 54,773 shares in the last quarter. Institutional investors and hedge funds own 66.28% of the company’s stock.

Cloudflare Company Profile (Get Rating)

CloudFlare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company offers 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.

See Also