Michelle Zatlyn Sells 25,641 Shares of Cloudflare (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the firm’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $174.61, for a total value of $4,477,175.01. Following the sale, the insider directly owned 34,514 shares in the company, valued at approximately $6,026,489.54. This represents a 42.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

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

• On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $189.50, for a total value of $4,858,969.50.
• On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $172.76, for a total value of $4,429,739.16.
• On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $192.66, for a total transaction of $4,939,995.06.
• On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20.
• On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $190.05, for a total transaction of $4,873,072.05.
• On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $187.96, for a total transaction of $4,819,482.36.
• On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $208.61, for a total transaction of $5,348,969.01.
• On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total transaction of $5,260,251.15.

Cloudflare Stock Up 1.3%

NET opened at $194.79 on Friday. The company has a market capitalization of $68.23 billion, a PE ratio of -671.67 and a beta of 1.98. The firm has a 50-day simple moving average of $184.30 and a two-hundred day simple moving average of $202.48. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00.

Cloudflare (NYSE:NET) last issued its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.01. The firm had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business’s revenue was up 33.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.19 earnings per share. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NET shares. Royal Bank Of Canada upped their price objective on Cloudflare from $230.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Wells Fargo & Company lifted their price objective on shares of Cloudflare from $265.00 to $270.00 and gave the company an “overweight” rating in a report on Wednesday, February 11th. Susquehanna set a $190.00 price objective on shares of Cloudflare in a research report on Thursday, February 12th. Zacks Research lowered Cloudflare from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Finally, Piper Sandler upped their price objective on shares of Cloudflare from $220.00 to $222.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $230.70.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently added to or reduced their stakes in NET. HM Payson & Co. purchased a new position in Cloudflare during the fourth quarter worth approximately $25,000. Physician Wealth Advisors Inc. increased its position in shares of Cloudflare by 693.3% in the third quarter. Physician Wealth Advisors Inc. now owns 119 shares of the company’s stock valued at $26,000 after buying an additional 104 shares in the last quarter. Wiser Advisor Group LLC acquired a new position in shares of Cloudflare during the 3rd quarter worth approximately $26,000. Westside Investment Management Inc. lifted its position in shares of Cloudflare by 100.0% during the 3rd quarter. Westside Investment Management Inc. now owns 130 shares of the company’s stock valued at $28,000 after buying an additional 65 shares in the last quarter. Finally, Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Cloudflare during the second quarter worth about $29,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Cloudflare Company Profile

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.