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

Cloudflare, Inc. (NYSE:NET) insider Michelle Zatlyn sold 25,641 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $189.50, for a total value of $4,858,969.50. Following the sale, the insider directly owned 34,514 shares of the company’s stock, valued at approximately $6,540,403. This represents a 42.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Tuesday, March 3rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $174.61, for a total value of $4,477,175.01.
• 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 stock was 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 shares were 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 shares were 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 stock was sold at an average price of $205.15, for a total transaction of $5,260,251.15.

Cloudflare Trading Up 1.3%

NYSE NET opened at $194.79 on Friday. The firm’s 50 day moving average price is $184.30 and its two-hundred day moving average price is $202.48. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a twelve month low of $89.42 and a twelve month high of $260.00. The stock has a market cap of $68.23 billion, a price-to-earnings ratio of -671.67 and a beta of 1.98.

Cloudflare (NYSE:NET) last released its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million during the quarter, compared to analyst estimates of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The company’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.19 earnings per share. Equities analysts anticipate that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on NET. Weiss Ratings restated a “sell (d-)” rating on shares of Cloudflare in a research report on Wednesday, January 21st. Robert W. Baird set a $260.00 target price on Cloudflare and gave the company an “outperform” rating in a report on Wednesday, February 11th. Wells Fargo & Company increased their price target on shares of Cloudflare from $265.00 to $270.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 11th. Mizuho decreased their price target on shares of Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Finally, Guggenheim boosted their price objective on shares of Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a research report on Wednesday, February 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Institutional Investors Weigh In On Cloudflare

Several institutional investors have recently made changes to their positions in NET. Norges Bank bought a new position in Cloudflare during the fourth quarter valued at approximately $718,316,000. Jennison Associates LLC grew its position in Cloudflare by 802.6% in the fourth quarter. Jennison Associates LLC now owns 1,863,612 shares of the company’s stock worth $367,411,000 after acquiring an additional 1,657,144 shares in the last quarter. Corient Private Wealth LLC grew its position in Cloudflare by 4,042.6% in the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock worth $275,887,000 after acquiring an additional 1,365,598 shares in the last quarter. Groupama Asset Managment acquired a new position in shares of Cloudflare during the 2nd quarter worth $225,204,000. Finally, Vanguard Group Inc. increased its stake in shares of Cloudflare by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 32,317,249 shares of the company’s stock worth $6,934,958,000 after purchasing an additional 821,684 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors and hedge funds.

About Cloudflare

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.