Thomas J. Seifert Sells 20,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET – Get Rating) CFO Thomas J. Seifert sold 20,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The shares were sold at an average price of $45.07, for a total transaction of $901,400.00. Following the completion of the sale, the chief financial officer now directly owns 86,433 shares in the company, valued at approximately $3,895,535.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Cloudflare Stock Performance

NYSE:NET opened at $42.70 on Friday. The firm’s fifty day moving average price is $46.10 and its 200 day moving average price is $53.24. Cloudflare, Inc. has a 1-year low of $37.37 and a 1-year high of $132.45. The company has a debt-to-equity ratio of 2.42, a current ratio of 5.35 and a quick ratio of 5.35. The firm has a market cap of $14.03 billion, a price-to-earnings ratio of -61.00 and a beta of 1.03.

Cloudflare (NYSE:NET – Get Rating) last posted its quarterly earnings data on Thursday, November 3rd. The company reported ($0.11) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. Cloudflare had a negative net margin of 25.16% and a negative return on equity of 27.82%. The firm had revenue of $253.86 million for the quarter, compared to analyst estimates of $250.20 million. On average, sell-side analysts expect that Cloudflare, Inc. will post -0.4 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Cantor Fitzgerald raised their target price on shares of Cloudflare from $55.00 to $65.00 in a report on Friday, November 4th. Truist Financial cut their price objective on shares of Cloudflare from $80.00 to $57.00 in a report on Monday, January 9th. Cowen cut their price objective on shares of Cloudflare from $100.00 to $75.00 in a report on Friday, November 4th. Credit Suisse Group cut their price objective on shares of Cloudflare from $125.00 to $95.00 and set an “outperform” rating on the stock in a report on Friday, November 4th. Finally, Moffett Nathanson started coverage on shares of Cloudflare in a report on Thursday, September 22nd. They set a “buy” rating and a $114.00 price objective on the stock. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $75.54.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. grew its position in Cloudflare by 5.8% in the 3rd quarter. Vanguard Group Inc. now owns 25,299,971 shares of the company’s stock valued at $1,399,341,000 after buying an additional 1,398,081 shares during the last quarter. Baillie Gifford & Co. boosted its position in shares of Cloudflare by 2.5% during the 3rd quarter. Baillie Gifford & Co. now owns 24,725,247 shares of the company’s stock worth $1,367,553,000 after purchasing an additional 610,639 shares in the last quarter. Sands Capital Management LLC boosted its position in shares of Cloudflare by 2.0% during the 3rd quarter. Sands Capital Management LLC now owns 15,956,268 shares of the company’s stock worth $882,541,000 after purchasing an additional 312,315 shares in the last quarter. State Street Corp boosted its position in shares of Cloudflare by 5.3% during the 1st quarter. State Street Corp now owns 5,552,609 shares of the company’s stock worth $664,647,000 after purchasing an additional 278,422 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Cloudflare by 14.1% during the 2nd quarter. Franklin Resources Inc. now owns 2,991,913 shares of the company’s stock worth $130,897,000 after purchasing an additional 369,048 shares in the last quarter. 69.97% of the stock is currently owned by hedge funds and other institutional investors.

Cloudflare Company Profile

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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.