Michelle Zatlyn Sells 25,640 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $89.69, for a total value of $2,299,651.60. Following the completion of the sale, the chief operating officer now directly owns 19,615 shares in the company, valued at $1,759,269.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, April 18th, Michelle Zatlyn sold 18,955 shares of Cloudflare stock. The shares were sold at an average price of $87.07, for a total value of $1,650,411.85.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $101.02, for a total transaction of $2,590,152.80.
• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $97.96, for a total transaction of $2,511,694.40.
• On Tuesday, February 20th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $96.32, for a total transaction of $2,469,644.80.
• On Thursday, February 15th, Michelle Zatlyn sold 277,376 shares of Cloudflare stock. The shares were sold at an average price of $101.17, for a total transaction of $28,062,129.92.
• On Friday, January 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The stock was sold at an average price of $78.68, for a total transaction of $1,008,677.60.

Cloudflare Stock Down 1.5 %

Shares of NYSE NET traded down $1.29 during mid-day trading on Thursday, reaching $86.71. 2,510,021 shares of the company’s stock traded hands, compared to its average volume of 3,816,684. The stock has a market cap of $29.28 billion, a P/E ratio of -157.65 and a beta of 1.12. The business has a 50-day simple moving average of $96.86 and a 200 day simple moving average of $81.63. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. The firm had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. On average, analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of several analyst reports. Capital One Financial initiated coverage on shares of Cloudflare in a research report on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price target on the stock. DZ Bank lowered shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, February 13th. KeyCorp increased their price target on shares of Cloudflare from $94.00 to $132.00 and gave the stock an “overweight” rating in a research report on Friday, February 9th. Mizuho cut their target price on shares of Cloudflare from $105.00 to $95.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Truist Financial raised their price target on shares of Cloudflare from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Friday, February 9th. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $87.08.

Institutional Trading of Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the business. PNC Financial Services Group Inc. increased its holdings in Cloudflare by 48.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock worth $1,066,000 after acquiring an additional 2,912 shares during the period. MetLife Investment Management LLC bought a new stake in Cloudflare during the 1st quarter valued at $1,950,000. Synovus Financial Corp bought a new stake in Cloudflare during the 1st quarter valued at $439,000. Cibc World Market Inc. raised its holdings in Cloudflare by 16.8% in the 1st quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock worth $2,611,000 after purchasing an additional 3,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Cloudflare by 10.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock worth $21,732,000 after purchasing an additional 17,681 shares in the last quarter. Institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

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.