Michelle Zatlyn Sells 18,955 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 18,955 shares of the firm’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $87.07, for a total value of $1,650,411.85. Following the sale, the chief operating officer now directly owns 19,615 shares of the company’s stock, valued at approximately $1,707,878.05. The transaction 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 Tuesday, April 16th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $89.69, for a total value of $2,299,651.60.
• On Friday, March 8th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The shares were sold at an average price of $101.02, for a total value 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 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 stock was sold at an average price of $78.68, for a total value of $1,008,677.60.

Cloudflare Price Performance

Shares of NET stock traded down $1.29 during trading hours on Thursday, hitting $86.71. The stock had a trading volume of 2,510,021 shares, compared to its average volume of 3,816,684. The stock’s 50-day moving average price is $96.86 and its two-hundred day moving average price is $81.63. 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, Inc. has a one year low of $39.90 and a one year high of $116.00. The stock has a market capitalization of $29.28 billion, a price-to-earnings ratio of -157.65 and a beta of 1.12.

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

Institutional Trading of Cloudflare

A number of large investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its holdings in shares of 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 period. Diversified Trust Co lifted its holdings in Cloudflare by 52.8% during the first quarter. Diversified Trust Co now owns 5,337 shares of the company’s stock worth $517,000 after buying an additional 1,845 shares during the period. 180 Wealth Advisors LLC purchased a new stake in Cloudflare during the first quarter worth $205,000. Wealth Enhancement Advisory Services LLC lifted its holdings in Cloudflare by 5.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 21,126 shares of the company’s stock worth $2,046,000 after buying an additional 1,163 shares during the period. Finally, Riverview Trust Co purchased a new stake in shares of Cloudflare during the 1st quarter valued at $27,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Cantor Fitzgerald restated a “neutral” rating and set a $100.00 target price on shares of Cloudflare in a research report on Wednesday. JMP Securities boosted their target price on Cloudflare from $75.00 to $90.00 and gave the company a “market outperform” rating in a research note on Wednesday, January 31st. KeyCorp upped 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. Truist Financial increased their target price on Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 9th. Finally, Morgan Stanley increased their target price on Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research report on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $87.08.

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.