Thomas J. Seifert sells 20,000 shares of Cloudflare, Inc. (NYSE: NET)
Cloudflare, Inc. (NYSE: NET) CFO Thomas J. Seifert sold 20,000 shares of the company in a trade on Tuesday, November 23. The shares were sold at an average price of $ 183.68, for a total trade of $ 3,673,600.00. The sale was disclosed in a legal file with the Securities & Exchange Commission, which can be accessed via this hyperlink.
NET shares traded up $ 12.74 during trading hours on Wednesday, reaching $ 197.39. The stock had a trade volume of 3,938,153 shares, compared to its average volume of 3,863,304. The company has a leverage ratio of 1.34, a current ratio of 8.51, and a rapid ratio of 5.72. Cloudflare, Inc. has a twelve month low of $ 60.96 and a twelve month high of $ 221.64. The company has a 50-day simple moving average of $ 166.29 and a 200-day simple moving average of $ 126.67. The company has a market cap of $ 63.51 billion, a PE ratio of -281.98 and a beta of 0.61.
Cloudflare (NYSE: NET) last released its quarterly earnings data on Thursday, November 4. The company reported ($ 0.09) earnings per share for the quarter, missing Zacks’ consensus estimate of ($ 0.04) by ($ 0.05). The company posted revenue of $ 172.35 million in the quarter, compared to analysts’ estimates of $ 165.65 million. Cloudflare had a negative return on equity of 13.32% and a negative net margin of 36.83%. The company’s revenue increased 51.0% year-on-year. During the same period last year, the company made EPS ($ 0.06). On average, stock analysts predict that Cloudflare, Inc. will post earnings per share of -0.49 for the current year.
NET has been the subject of several analyst reports. Truist raised its price target for Cloudflare shares from $ 130.00 to $ 185.00 and gave the company a “buy” rating in a research note on Monday, October 25. Mizuho raised his price target for Cloudflare shares from $ 140.00 to $ 190.00 and rated the company “neutral” in a report released on Friday, November 5. They noted that the move was an appraisal call. Royal Bank of Canada raised its target price on Cloudflare shares from $ 130.00 to $ 220.00 and rated the stock as “outperforming” in a report released on Friday, November 5. Robert W. Baird downgraded Cloudflare shares from an “outperforming” rating to a “neutral” rating and increased their target price for the stock from $ 95.00 to $ 117.00 in a report released on Friday the 6th August. Finally, Needham & Company LLC raised its price target for Cloudflare stock from $ 140.00 to $ 245.00 and gave the stock a “buy” rating in a report released on Friday, November 5. Eleven investment analysts gave the stock a hold rating and twelve gave the company a buy rating. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $ 155.71.
Institutional investors and hedge funds recently changed their positions in the stock. Tradewinds Capital Management LLC increased its position in Cloudflare by 650.0% in the 3rd quarter. Tradewinds Capital Management LLC now owns 225 shares of the company valued at $ 25,000 after purchasing 195 additional shares in the last quarter. West Branch Capital LLC purchased a new position in Cloudflare in the second quarter for a value of approximately $ 28,000. MFA Wealth Advisors LLC purchased a new position in Cloudflare in the third quarter worth approximately $ 28,000. Spire Wealth Management increased its position in Cloudflare by 35.4% in the 3rd quarter. Spire Wealth Management now owns 268 shares of the company valued at $ 30,000 after purchasing 70 more shares in the last quarter. Finally, the Canada Pension Plan Investment Board increased its position in Cloudflare by 434.9% in the second quarter. The Canada Pension Plan Investment Board now owns 337 shares of the company valued at $ 36,000 after purchasing an additional 274 shares in the last quarter. Hedge funds and other institutional investors hold 66.94% of the company’s shares.
Cloudflare Company Profile
CloudFlare, Inc operates a cloud platform that provides a range of network services to businesses around the world. The company provides 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 Internet of Things devices. (IoT).
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