Janel Riley Sells 23,332 Shares of Cloudflare (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 23,332 shares of the stock in a transaction that occurred on Thursday, March 5th. The shares were sold at an average price of $190.00, for a total value of $4,433,080.00. Following the transaction, the chief accounting officer owned 56,791 shares in the company, valued at $10,790,290. This trade represents a 29.12% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Cloudflare Price Performance

Cloudflare stock opened at $194.79 on Friday. The stock has a market capitalization of $68.23 billion, a P/E ratio of -671.67 and a beta of 1.98. The company’s fifty day moving average price is $184.30 and its 200 day moving average price is $202.52. 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 1 year low of $89.42 and a 1 year high of $260.00.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.27 by $0.01. The company had revenue of $614.51 million during the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. The firm’s revenue for the quarter was up 33.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Analyst Ratings Changes

NET has been the topic of a number of research reports. Argus raised their price target on shares of Cloudflare from $238.00 to $265.00 and gave the company a “buy” rating in a research note on Monday, November 10th. Oppenheimer initiated coverage on Cloudflare in a research note on Monday, November 10th. They set an “outperform” rating and a $260.00 price objective for the company. BTIG Research increased their target price on Cloudflare from $199.00 to $243.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Robert W. Baird set a $260.00 target price on Cloudflare and gave the company an “outperform” rating in a research report on Wednesday, February 11th. Finally, Zacks Research cut Cloudflare from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $230.70.

Hedge Funds Weigh In On Cloudflare

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Cloudflare during the fourth quarter worth $718,316,000. Jennison Associates LLC increased its stake in shares of Cloudflare by 802.6% in the 4th 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 during the last quarter. Corient Private Wealth LLC increased its stake in shares of Cloudflare by 4,042.6% in the 4th 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 during the last quarter. Groupama Asset Managment purchased a new position in shares of Cloudflare during the 2nd quarter worth $225,204,000. Finally, Vanguard Group Inc. raised its holdings 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 acquiring an additional 821,684 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.