Key Points
- Director Mark Hawkins sold 133 shares on April 1 at an average price of $209.60 under a pre-arranged Rule 10b5-1 plan, trimming his position by 1.27% to 10,322 shares valued at about $2.16M.
- Cloudflare beat the quarter's estimates, reporting $0.28 EPS vs. $0.27 expected and revenue of $614.5M (up 33.6% year-over-year), while still showing a negative net margin and return on equity.
- Shares trade near $211 (up ~2.9%) with a $74.37B market cap, a 52-week range of $89.42–$260.00, ~82.7% institutional ownership, and a consensus analyst rating of "Moderate Buy" with a $233.38 target.
Cloudflare, Inc. (NYSE:NET - Get Free Report) Director Mark Hawkins sold 133 shares of the business's stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $209.60, for a total value of $27,876.80. Following the completion of the sale, the director owned 10,322 shares of the company's stock, valued at $2,163,491.20. The trade was a 1.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cloudflare Trading Up 2.9%
NET opened at $211.30 on Friday. The company has a quick ratio of 1.98, a current ratio of 1.98 and a debt-to-equity ratio of 1.35. The stock's fifty day moving average is $192.63 and its two-hundred day moving average is $202.89. The company has a market capitalization of $74.37 billion, a P/E ratio of -728.58 and a beta of 1.87. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00.
Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings results on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to the consensus estimate of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The business's revenue was up 33.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.19 EPS. Analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.
Institutional Inflows and Outflows
Hedge funds have recently added to or reduced their stakes in the company. Purpose Unlimited Inc. acquired a new stake in Cloudflare during the 4th quarter worth $721,000. Stance Capital LLC raised its position in shares of Cloudflare by 10.7% in the fourth quarter. Stance Capital LLC now owns 6,721 shares of the company's stock valued at $1,325,000 after buying an additional 650 shares during the last quarter. Osbon Capital Management LLC purchased a new position in shares of Cloudflare in the fourth quarter worth about $2,456,000. Fund Advisors of America Inc FL purchased a new position in shares of Cloudflare in the fourth quarter worth about $1,900,000. Finally, Spear Advisors LLC acquired a new position in Cloudflare during the fourth quarter worth about $5,844,000. 82.68% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several research firms have recently commented on NET. Piper Sandler boosted their price target on shares of Cloudflare from $220.00 to $222.00 and gave the company a "neutral" rating in a report on Wednesday, February 11th. UBS Group reissued a "neutral" rating and set a $220.00 price objective on shares of Cloudflare in a report on Wednesday, February 11th. Guggenheim boosted their price objective on shares of Cloudflare from $117.00 to $140.00 and gave the stock a "sell" rating in a research note on Wednesday, February 11th. Zacks Research upgraded Cloudflare from a "strong sell" rating to a "hold" rating in a report on Friday, March 13th. Finally, Scotiabank dropped their target price 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $233.38.
Read Our Latest 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.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
