Cloudflare, Inc. (NYSE:NET – Get Rating) Chief Financial Officer Thomas J. Seifert sold 10,000 shares of the company in a trade on Tuesday, April 12. The stock was sold at an average price of $115.06, for a total transaction of $1,150,600.00. Following the completion of the transaction, the CFO now owns 86,433 shares of the company, valued at $9,944,980.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link.
NET opened at $113.98 on Friday. The company has a current ratio of 6.78, a quick ratio of 6.78 and a debt ratio of 1.41. Cloudflare, Inc. has a 1-year minimum of $64.84 and a 1-year maximum of $221.64. The company’s 50-day simple moving average is $108.90 and its two-hundred-day simple moving average is $134.23.
Cloudflare (NYSE:NET – Get Rating) last released its quarterly results on Thursday, February 10. The company reported ($0.13) earnings per share for the quarter, missing Thomson Reuters consensus estimate of ($0.09) by ($0.04). Cloudflare had a negative return on equity of 15.45% and a negative net margin of 39.65%. The company posted revenue of $193.60 million in the quarter, versus a consensus estimate of $184.79 million. As a group, sell-side analysts expect Cloudflare, Inc. to post -0.36 earnings per share for the current fiscal year.
NET has been the subject of several recent research reports. Stifel Europe raised its price target on Cloudflare shares from $113.00 to $128.00 and gave the stock a “holding” rating in a Monday, February 14 research note. Zacks Investment Research downgraded Cloudflare shares from a “buy” rating to a “hold” rating in a research note on Thursday. Mizuho raised its price target on Cloudflare shares from $120.00 to $135.00 and gave the stock a “neutral” rating in a Friday, Feb. 11 research note. Stifel Nicolaus lowered his price target on Cloudflare shares from $126.00 to $120.00 and set a “holding” rating for the company in a Monday, March 21 research note. Finally, Credit Suisse Group raised its price target on Cloudflare shares from $140.00 to $150.00 and gave the company an “outperform” rating in a Friday, Feb. 11 research note. One research analyst rated the stock with a sell rating, twelve issued a hold rating and twelve gave the company a buy rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $151.39.
A number of institutional investors and hedge funds have recently increased or reduced their holdings in NET. Morgan Stanley increased its position in Cloudflare shares by 120.2% during Q2. Morgan Stanley now owns 28,729,894 shares of the company valued at $3,040,771,000 after purchasing an additional 15,680,274 shares during the period. Assenagon Asset Management SA bought a new position in Cloudflare during the third quarter worth $274,000. Jackson Square Capital LLC increased its stake in Cloudflare by 0.6% during the third quarter. Jackson Square Capital LLC now owns 63,615 shares of the company valued at $7,166,000 after acquiring 402 additional shares last quarter. Spire Wealth Management increased its stake in Cloudflare by 35.4% during the third quarter. Spire Wealth Management now owns 268 shares of the company valued at $30,000 after acquiring 70 additional shares in the last quarter. Finally, Westpac Banking Corp increased its stake in Cloudflare by 234.0% during the third quarter. Westpac Banking Corp now owns 78,181 shares of the company valued at $8,807,000 after acquiring an additional 54,773 shares last quarter. Institutional investors and hedge funds own 66.28% of the company’s shares.
Cloudflare Company Profile (Get an evaluation)
CloudFlare, Inc operates as a cloud service provider that offers a range of services to businesses around the world. The company offers an integrated cloud-based security solution to secure a range of platform combinations, including public cloud, private cloud, on-premises applications, software as a service, and IoT devices.
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