Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert Sells 16,901 Shares of Stock

Cloudflare, Inc. (NYSE:NET) CFO Thomas J. Seifert sold 16,901 shares of Cloudflare stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $72.13, for a total value of $1,219,069.13. Following the sale, the chief financial officer now directly owns 243,495 shares of the company’s stock, valued at $17,563,294.35. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Cloudflare Price Performance

Shares of Cloudflare stock opened at $72.80 on Tuesday. The company has a debt-to-equity ratio of 1.83, a current ratio of 3.89 and a quick ratio of 3.89. Cloudflare, Inc. has a fifty-two week low of $37.56 and a fifty-two week high of $76.07. The firm has a fifty day moving average price of $61.89 and a two-hundred day moving average price of $62.55. The company has a market cap of $24.44 billion, a PE ratio of -119.34 and a beta of 0.97.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Citigroup boosted their target price on Cloudflare from $48.00 to $65.00 and gave the company a “neutral” rating in a report on Tuesday, August 29th. Royal Bank of Canada lowered their target price on shares of Cloudflare from $70.00 to $65.00 and set an “outperform” rating on the stock in a research report on Friday, November 3rd. Mizuho lifted their price target on shares of Cloudflare from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, August 4th. Robert W. Baird lifted their price target on shares of Cloudflare from $64.00 to $75.00 in a research report on Friday, July 28th. Finally, Needham & Company LLC lifted their price target on shares of Cloudflare from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Four investment analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.24.

Institutional Trading of Cloudflare

Hedge funds have recently bought and sold shares of the stock. Creative Planning lifted its holdings in shares of Cloudflare by 12.9% during the 3rd quarter. Creative Planning now owns 17,470 shares of the company’s stock worth $1,101,000 after acquiring an additional 1,995 shares during the period. Harbour Investments Inc. lifted its holdings in shares of Cloudflare by 33.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,045 shares of the company’s stock worth $66,000 after acquiring an additional 260 shares during the period. Mercer Global Advisors Inc. ADV lifted its holdings in shares of Cloudflare by 52.0% during the 3rd quarter. Mercer Global Advisors Inc. ADV now owns 80,906 shares of the company’s stock worth $5,100,000 after acquiring an additional 27,677 shares during the period. Toroso Investments LLC lifted its holdings in shares of Cloudflare by 2.8% during the 3rd quarter. Toroso Investments LLC now owns 11,216 shares of the company’s stock worth $707,000 after acquiring an additional 307 shares during the period. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Cloudflare by 2.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 107,194 shares of the company’s stock worth $6,759,000 after acquiring an additional 2,374 shares during the period. 73.14% of the stock is owned by institutional investors.

About Cloudflare

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, secure origin connection, and rate limiting products.