Internal Sales: Cloudflare, Inc. (NYSE:NET) COO sells 35,117 shares

Cloudflare, Inc. (NYSE:NET – Get Your Free Report ) COO Michelle Zatlyn sold 35,117 shares of the company’s stock in a transaction that occurred on Tuesday, August 20th. The shares were sold at an average price of $83.74, for a total value of $2,940,697.58. Following the completion of the transaction, the chief operating officer now directly owns 192,177 shares in the company, valued at approximately $16,092,901.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.

Michelle Zatlyn also recently traded:

• On Thursday, August 22nd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $81.91, for a total transaction of $2,100,172.40.
• On Wednesday, July 3rd, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $85.28, for a total transaction of $2,186,579.20.
• On Monday, July 1st, Michelle Zatlyn sold 102,580 shares of Cloudflare stock. The shares were sold at an average price of $82.52, for a total transaction of $8,464,901.60.
• On Thursday, June 20th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $78.51, for a total transaction of $1,006,498.20.
• On Tuesday, June 18th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $77.54, for a total value of $994,062.80.

Cloudflare stock performance

Shares of Cloudflare opened at $80.65 on Friday. The stock has a fifty day moving average price of $80.21 and a 200 day moving average price of $85.05. Cloudflare, Inc. it has a 52-week low of $53.88 and a 52-week high of $116.00. The firm has a market cap of $27.40 billion, a P/E ratio of -152.17 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51, and a debt-to-equity ratio of 1.61.

Cloudflare (NYSE:NET – Get Your Free Report ) last posted its quarterly earnings results on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.14 by $0.06. The company had revenue of $401.00 million during the quarter, compared to analysts’ expectations of $394.11 million. Cloudflare had a negative return on equity of 8.90% and a negative net margin of 6.90%. The company’s revenue increased by 30.0% year-on-year. In the same quarter last year, the company earned ($0.12) EPS. Equities research analysts anticipate that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Cloudflare Institutional Trading

Several institutional investors have recently made changes to their positions in the stock. Riverview Trust Co acquired a new stake in shares of Cloudflare in the 1st quarter worth about $27,000. Allspring Global Investments Holdings LLC lifted its position in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Cloudflare in the second quarter valued at approximately $29,000. Quarry LP raised its stake in Cloudflare by 73.4% during the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares during the period. Finally, ICA Group Wealth Management LLC purchased a new stake in shares of Cloudflare in the fourth quarter valued at $38,000. 82.68% of the shares are held by hedge funds and other institutional investors.

The Wall Street analyst weighs in

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. cut their price target on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating on the stock in a research report on Friday, May 3rd. Robert W. Baird boosted their price target on Cloudflare from $94.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. UBS Group raised Cloudflare from a “sell” rating to a “neutral” rating and raised their price objective for the company from $76.00 to $82.00 in a research note on Tuesday, the 25th June. DZ Bank upgraded Cloudflare from a “hold” rating to a “buy” rating and set a $95.00 target price on the stock in a research report on Tuesday, May 7th. Finally, Royal Bank of Canada boosted their price target on Cloudflare from $90.00 to $99.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $92.29, according to MarketBeat.

Check out our latest NET research report

Cloudflare Company Profile

(Get a free report)

Cloudflare, Inc operates as a cloud service provider that provides a wide range of services to businesses around the world. The company provides an integrated cloud-based security solution to secure a range of platform combinations, including public cloud, private cloud, on-premise applications, software-as-a-service and IoT devices; and security products for websites and applications, including web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center and rate limiting products .

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