Key Points
- Michelle Zatlyn sold 25,641 Cloudflare shares on March 3 at an average price of $174.61 for about $4.48 million, leaving her with 34,514 shares (a reported 42.62% reduction in her ownership).
- She has been selling repeatedly since December — including another 25,641-share sales on multiple dates and a 35,080-share sale on Feb 19 — with aggregate proceeds of roughly $45.6 million from the listed transactions.
- Cloudflare recently posted revenue up 33.6% year-over-year and a slight EPS beat for the quarter, and analysts maintain a consensus "Moderate Buy" with an average target price of $230.70.
Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Michelle Zatlyn sold 25,641 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $174.61, for a total transaction of $4,477,175.01. Following the transaction, the insider owned 34,514 shares in the company, valued at approximately $6,026,489.54. The trade was a 42.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Michelle Zatlyn also recently made the following trade(s):
- On Thursday, March 5th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $189.50, for a total transaction of $4,858,969.50.
- On Monday, February 23rd, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $172.76, for a total transaction of $4,429,739.16.
- On Friday, February 20th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $192.66, for a total transaction of $4,939,995.06.
- On Thursday, February 19th, Michelle Zatlyn sold 35,080 shares of Cloudflare stock. The shares were sold at an average price of $187.39, for a total transaction of $6,573,641.20.
- On Thursday, January 15th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $190.05, for a total value of $4,873,072.05.
- On Tuesday, January 13th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The stock was sold at an average price of $187.96, for a total value of $4,819,482.36.
- On Thursday, December 11th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $208.61, for a total value of $5,348,969.01.
- On Tuesday, December 9th, Michelle Zatlyn sold 25,641 shares of Cloudflare stock. The shares were sold at an average price of $205.15, for a total value of $5,260,251.15.
Cloudflare Stock Performance
NET stock traded down $0.94 during midday trading on Friday, reaching $191.37. 337,444 shares of the company were exchanged, compared to its average volume of 4,945,494. Cloudflare, Inc. has a one year low of $89.42 and a one year high of $260.00. The firm has a market capitalization of $67.03 billion, a price-to-earnings ratio of -659.87 and a beta of 1.98. The business has a 50-day moving average price of $184.45 and a two-hundred day moving average price of $202.53. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.98 and a quick ratio of 1.98.
Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, topping the consensus estimate of $0.27 by $0.01. The business had revenue of $614.51 million during the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative net margin of 4.72% and a negative return on equity of 7.24%. Cloudflare's revenue was up 33.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.19 EPS. Equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.
Institutional Inflows and Outflows
A number of hedge funds have recently modified their holdings of the stock. Rakuten Investment Management Inc. acquired a new position in Cloudflare during the third quarter worth about $138,660,000. Allianz Asset Management GmbH boosted its stake in shares of Cloudflare by 322.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 65,182 shares of the company's stock valued at $13,987,000 after purchasing an additional 49,749 shares in the last quarter. National Pension Service grew its holdings in shares of Cloudflare by 1.0% during the 3rd quarter. National Pension Service now owns 618,662 shares of the company's stock valued at $132,759,000 after purchasing an additional 5,939 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in Cloudflare during the 2nd quarter worth approximately $87,868,000. Finally, Swedbank AB lifted its stake in Cloudflare by 27.7% in the 3rd quarter. Swedbank AB now owns 43,878 shares of the company's stock valued at $9,416,000 after purchasing an additional 9,527 shares during the last quarter. Institutional investors own 82.68% of the company's stock.
Analysts Set New Price Targets
Several analysts recently weighed in on the company. Jefferies Financial Group lifted their price target on Cloudflare from $185.00 to $225.00 and gave the stock a "hold" rating in a report on Wednesday, February 11th. Scotiabank lowered their price objective on Cloudflare from $255.00 to $225.00 and set a "sector perform" rating on the stock in a research report on Wednesday, February 11th. Royal Bank Of Canada lifted their target price on Cloudflare from $230.00 to $240.00 and gave the stock an "outperform" rating in a report on Wednesday, February 11th. TD Cowen restated a "buy" rating on shares of Cloudflare in a research note on Tuesday, January 27th. Finally, Guggenheim raised their price target on shares of Cloudflare from $117.00 to $140.00 and gave the stock a "sell" rating in a research report on Wednesday, February 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $230.70.
Get Our Latest Stock Analysis on NET
About Cloudflare
(
Get Free Report)
Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.
In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.
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