Insider Selling: Cloudflare, Inc. (NYSE:NET) COO Sells 25,640 Shares of Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 25,640 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $101.02, for a total value of $2,590,152.80. Following the sale, the chief operating officer now owns 19,615 shares of the company’s stock, valued at $1,981,507.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

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

• On Wednesday, March 6th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $97.96, for a total value of $2,511,694.40.
• On Tuesday, February 20th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $96.32, for a total value 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 value of $28,062,129.92.
• On Friday, January 19th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $78.68, for a total value of $1,008,677.60.
• On Wednesday, January 17th, Michelle Zatlyn sold 12,820 shares of Cloudflare stock. The shares were sold at an average price of $76.15, for a total value of $976,243.00.

Cloudflare Price Performance

Shares of NYSE:NET traded down $2.76 during trading on Friday, reaching $97.99. The stock had a trading volume of 4,662,313 shares, compared to its average volume of 4,572,826. Cloudflare, Inc. has a 52 week low of $39.90 and a 52 week high of $116.00. The business’s 50-day moving average price is $88.50 and its 200 day moving average price is $74.79. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50.

Cloudflare (NYSE:NET) last posted its earnings results 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 company had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $100.00 price target (up from $70.00) on shares of Cloudflare in a research report on Friday, February 9th. Sanford C. Bernstein assumed coverage on Cloudflare in a research report on Thursday, January 18th. They issued a “market perform” rating and a $85.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Cloudflare from $53.00 to $90.00 and gave the company a “neutral” rating in a research report on Friday, February 9th. Needham & Company LLC raised their price target on Cloudflare from $110.00 to $135.00 and gave the company a “buy” rating in a research report on Friday, February 9th. Finally, KeyCorp raised their price target on Cloudflare from $94.00 to $132.00 and gave the company an “overweight” rating in a research report 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 stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $87.50.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Sunbelt Securities Inc. bought a new stake in shares of Cloudflare during the 1st quarter valued at $29,000. JTC Employer Solutions Trustee Ltd bought a new stake in shares of Cloudflare during the 3rd quarter valued at $38,000. ICA Group Wealth Management LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at $38,000. GAMMA Investing LLC bought a new stake in shares of Cloudflare during the 4th quarter valued at $39,000. Finally, Providence Capital Advisors LLC raised its position in shares of Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock valued at $40,000 after acquiring an additional 2,426 shares during the last quarter. Institutional investors own 73.14% 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.