Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 10,000 shares of the stock in a transaction that occurred on Friday, April 25th. The shares were sold at an average price of $120.14, for a total value of $1,201,400.00. Following the transaction, the chief financial officer now owns 293,582 shares of the company's stock, valued at approximately $35,270,941.48. This trade represents a 3.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Cloudflare Trading Down 0.1 %
Shares of NYSE:NET opened at $120.90 on Tuesday. The company has a 50 day moving average of $119.99 and a 200-day moving average of $115.86. The firm has a market cap of $41.72 billion, a P/E ratio of -549.55 and a beta of 1.59. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32.
Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts' consensus estimates of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.
Institutional Trading of Cloudflare
A number of institutional investors have recently made changes to their positions in the stock. Mutual Advisors LLC acquired a new stake in shares of Cloudflare in the 1st quarter worth approximately $203,000. Teacher Retirement System of Texas lifted its stake in shares of Cloudflare by 1,469.3% in the 1st quarter. Teacher Retirement System of Texas now owns 44,679 shares of the company's stock worth $5,035,000 after acquiring an additional 41,832 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Cloudflare during the first quarter valued at approximately $205,000. First Horizon Advisors Inc. lifted its stake in Cloudflare by 208.9% during the first quarter. First Horizon Advisors Inc. now owns 451 shares of the company's stock valued at $51,000 after purchasing an additional 305 shares during the last quarter. Finally, Private Trust Co. NA lifted its stake in Cloudflare by 16,712.5% during the first quarter. Private Trust Co. NA now owns 1,345 shares of the company's stock valued at $152,000 after purchasing an additional 1,337 shares during the last quarter. 82.68% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research firms have recently commented on NET. DZ Bank cut Cloudflare from a "hold" rating to a "sell" rating and set a $145.00 target price for the company. in a research note on Tuesday, February 11th. Guggenheim increased their target price on Cloudflare from $57.00 to $68.00 and gave the company a "sell" rating in a research note on Friday, February 7th. Baird R W cut Cloudflare from a "strong-buy" rating to a "hold" rating in a research note on Monday, February 3rd. Mizuho upgraded Cloudflare from a "neutral" rating to an "outperform" rating and set a $135.00 target price for the company in a research note on Wednesday, April 16th. Finally, Citigroup upgraded Cloudflare from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $95.00 to $145.00 in a research note on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and an average target price of $134.84.
Read Our Latest Stock Report on NET
Cloudflare Company Profile
(
Get Free Report)
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.
Further Reading
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