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 dated Tuesday, December 10th. The shares were sold at an average price of $112.68, for a total transaction of $2,889,115.20. Following the completion of the transaction, the chief operating officer now owns 172,959 shares of the company’s stock, valued at $19,489,020.12. This represents a 12.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Thursday, December 12th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $113.16, for a total transaction of $2,901,422.40.
• On Wednesday, November 27th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $100.44, for a total value of $2,575,281.60.
• On Monday, November 25th, Michelle Zatlyn sold 35,118 shares of Cloudflare stock. The shares were sold at an average price of $105.30, for a total value of $3,697,925.40.
• On Wednesday, October 9th, Michelle Zatlyn sold 25,640 shares of Cloudflare stock. The stock was sold at an average price of $82.60, for a total value of $2,117,864.00.
• On Monday, October 7th, Michelle Zatlyn sold 64,100 shares of Cloudflare stock. The stock was sold at an average price of $81.60, for a total value of $5,230,560.00.

Cloudflare Stock Down 1.1 %

Shares of Cloudflare stock opened at $113.58 on Friday. The stock has a 50-day simple moving average of $96.10 and a 200-day simple moving average of $84.95. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $116.00. The firm has a market cap of $38.98 billion, a price-to-earnings ratio of -436.85 and a beta of 1.10. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, November 7th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The company had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. On average, equities research analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several hedge funds have recently bought and sold shares of the business. Baillie Gifford & Co. boosted its stake in shares of Cloudflare by 8.5% during the 2nd quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Marshall Wace LLP lifted its holdings in Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock worth $128,265,000 after purchasing an additional 855,334 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd bought a new stake in Cloudflare during the third quarter worth approximately $25,588,000. American Century Companies Inc. grew its holdings in Cloudflare by 24.8% during the second quarter. American Century Companies Inc. now owns 1,394,732 shares of the company’s stock valued at $115,526,000 after purchasing an additional 277,228 shares during the last quarter. Finally, Glynn Capital Management LLC bought a new position in shares of Cloudflare in the second quarter valued at approximately $16,765,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on NET shares. BNP Paribas assumed coverage on shares of Cloudflare in a research report on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective for the company. UBS Group raised their target price on shares of Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Scotiabank upped their price target on Cloudflare from $85.00 to $87.00 and gave the company a “sector perform” rating in a report on Friday, November 8th. Wells Fargo & Company increased their price objective on Cloudflare from $105.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Finally, Mizuho lifted their target price on Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a report on Friday. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Cloudflare has an average rating of “Hold” and an average target price of $95.20.

About Cloudflare

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.