Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells $4,436,066.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,642 shares of the company’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $173.00, for a total transaction of $4,436,066.00. Following the completion of the transaction, the insider now owns 6,390 shares of the company’s stock, valued at $1,105,470. This trade represents a 80.05% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Thursday, June 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $171.41, for a total transaction of $4,395,123.81.
• On Wednesday, May 21st, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $156.72, for a total transaction of $4,018,300.80.
• On Tuesday, May 20th, Michelle Zatlyn sold 35,098 shares of Cloudflare stock. The shares were sold at an average price of $156.83, for a total transaction 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 transaction 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 transaction 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 transaction 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 transaction of $3,354,994.00.

Cloudflare Trading Up 1.9%

Shares of NET stock opened at $179.70 on Monday. Cloudflare, Inc. has a 1 year low of $69.26 and a 1 year high of $181.81. The firm’s fifty day simple moving average is $132.42 and its 200 day simple moving average is $127.69. The firm has a market capitalization of $62.29 billion, a P/E ratio of -816.82 and a beta of 1.84. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts’ consensus estimates 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 business had revenue of $479.09 million for the quarter, compared to analyst estimates of $469.49 million. During the same quarter in the prior year, the firm earned $0.16 EPS. The firm’s quarterly revenue was up 26.5% on a year-over-year basis. As a group, sell-side analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Institutional investors and hedge funds have recently made changes to their positions in the company. Mather Group LLC. boosted its stake in shares of Cloudflare by 1,188.2% in the 1st quarter. Mather Group LLC. now owns 219 shares of the company’s stock valued at $25,000 after purchasing an additional 202 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Cloudflare in the first quarter valued at about $27,000. GPS Wealth Strategies Group LLC raised its holdings in shares of Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company’s stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Cloudflare by 115.4% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after buying an additional 142 shares during the last quarter. Finally, Gordian Capital Singapore Pte Ltd bought a new position in shares of Cloudflare in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the topic of a number of analyst reports. Royal Bank of Canada dropped their price objective on shares of Cloudflare from $170.00 to $148.00 and set an “outperform” rating on the stock in a report on Thursday, March 13th. Susquehanna reduced their price objective on shares of Cloudflare from $170.00 to $140.00 and set a “neutral” rating for the company in a research report on Monday, May 12th. Jefferies Financial Group reduced their price objective on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a research report on Friday, May 9th. Capital One Financial upgraded shares of Cloudflare from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 8th. Finally, The Goldman Sachs Group decreased their price target on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a report on Friday, March 14th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $145.92.

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, script management, security center, and rate limiting products.