Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas J. Seifert sold 15,000 shares of the firm's stock in a transaction on Thursday, April 18th. The shares were sold at an average price of $87.02, for a total transaction of $1,305,300.00. Following the completion of the transaction, the chief financial officer now owns 338,469 shares in the company, valued at $29,453,572.38. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Cloudflare Stock Down 3.0 %
Shares of NYSE:NET opened at $84.10 on Friday. Cloudflare, Inc. has a one year low of $39.90 and a one year high of $116.00. The company has a 50 day moving average of $96.38 and a 200-day moving average of $81.78. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of -152.90 and a beta of 1.12.
Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.07) by $0.01. The company had revenue of $362.47 million during the quarter, compared to analysts' expectations of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. On average, sell-side analysts forecast that Cloudflare, Inc. will post -0.2 earnings per share for the current year.
Institutional Inflows and Outflows
FW: 234x Gain
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A number of institutional investors have recently bought and sold shares of NET. Moneta Group Investment Advisors LLC grew its holdings in Cloudflare by 131,133.8% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,073,501 shares of the company's stock valued at $274,583,000 after purchasing an additional 6,068,873 shares during the period. Norges Bank bought a new position in Cloudflare in the fourth quarter valued at approximately $124,592,000. 1832 Asset Management L.P. lifted its stake in Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company's stock valued at $242,836,000 after buying an additional 1,597,900 shares in the last quarter. Two Sigma Investments LP lifted its stake in Cloudflare by 215.1% in the first quarter. Two Sigma Investments LP now owns 1,344,914 shares of the company's stock valued at $82,927,000 after buying an additional 918,096 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Cloudflare by 2.7% in the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company's stock valued at $2,344,534,000 after buying an additional 740,914 shares in the last quarter. Institutional investors and hedge funds own 82.68% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently issued reports on NET shares. Susquehanna raised their target price on shares of Cloudflare from $75.00 to $115.00 and gave the company a "neutral" rating in a research note on Friday, February 9th. DZ Bank lowered shares of Cloudflare from a "buy" rating to a "hold" rating and set a $110.00 target price on the stock. in a research note on Tuesday, February 13th. JMP Securities raised their target price on shares of Cloudflare from $75.00 to $90.00 and gave the company a "market outperform" rating in a research note on Wednesday, January 31st. Mizuho reduced their price target on shares of Cloudflare from $105.00 to $95.00 and set a "neutral" rating for the company in a report on Monday, April 15th. Finally, Morgan Stanley increased their price target on shares of Cloudflare from $66.00 to $92.00 and gave the company an "equal weight" rating in a report on Monday, February 12th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $87.08.
View 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.
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