Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas Seifert sold 10,341 shares of the company's stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $212.30, for a total transaction of $2,195,394.30. Following the completion of the sale, the chief financial officer directly owned 224,625 shares in the company, valued at $47,687,887.50. This represents a 4.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
Cloudflare Trading Up 2.2%
NYSE NET opened at $211.83 on Wednesday. The company has a market capitalization of $74.20 billion, a price-to-earnings ratio of -730.44 and a beta of 1.98. 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, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The company's fifty day moving average price is $185.89 and its two-hundred day moving average price is $202.98.
Cloudflare (NYSE:NET - Get Free Report) last released its earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.27 by $0.01. The company 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%. The company's revenue was up 33.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.19 EPS. As a group, research analysts predict that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Cloudflare
A number of large investors have recently bought and sold shares of the business. Reliant Investment Partners LLC raised its holdings in shares of Cloudflare by 1.5% during the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company's stock valued at $718,000 after buying an additional 50 shares during the last quarter. Frank Rimerman Advisors LLC grew its holdings in Cloudflare by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company's stock worth $605,000 after buying an additional 51 shares in the last quarter. IMA Advisory Services Inc. increased its position in Cloudflare by 4.5% in the 4th quarter. IMA Advisory Services Inc. now owns 1,290 shares of the company's stock valued at $254,000 after acquiring an additional 55 shares during the period. Brown Brothers Harriman & Co. raised its stake in Cloudflare by 55.4% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 157 shares of the company's stock valued at $34,000 after acquiring an additional 56 shares in the last quarter. Finally, Silver Oak Securities Incorporated raised its stake in Cloudflare by 5.5% during the 4th quarter. Silver Oak Securities Incorporated now owns 1,090 shares of the company's stock valued at $218,000 after acquiring an additional 57 shares in the last quarter. Institutional investors own 82.68% of the company's stock.
Wall Street Analyst Weigh In
NET has been the subject of several research analyst reports. Weiss Ratings reissued a "sell (d-)" rating on shares of Cloudflare in a report on Wednesday, January 21st. Wolfe Research reaffirmed a "peer perform" rating on shares of Cloudflare in a report on Monday, January 26th. DZ Bank upgraded Cloudflare from a "hold" rating to a "buy" rating and set a $215.00 target price for the company in a research report on Friday, February 13th. UBS Group reiterated a "neutral" rating and issued a $220.00 price target on shares of Cloudflare in a report on Wednesday, February 11th. Finally, Needham & Company LLC reduced their price objective on Cloudflare from $285.00 to $250.00 and set a "buy" rating on the stock in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, Cloudflare has an average rating of "Moderate Buy" and an average price target of $233.38.
View Our Latest Report on Cloudflare
Cloudflare Company Profile
(
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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