Key Points
- Cloudflare CFO Thomas Seifert sold 10,000 shares on April 17 at an average price of $197.98 (≈$1.98M), trimming his stake by 4.32% to 221,681 shares; the transaction was disclosed in an SEC filing and executed under a pre-arranged Rule 10b5-1 plan.
- In the most recent quarter Cloudflare reported $614.51 million in revenue (up 33.6% year-over-year) and beat EPS estimates ($0.28 vs. $0.27), though the company still shows a negative net margin and negative return on equity.
- Analyst sentiment is broadly favorable: MarketBeat shows an average rating of Moderate Buy with an average price target of $232.62.
Cloudflare, Inc. (NYSE:NET - Get Free Report) CFO Thomas Seifert sold 10,000 shares of the stock in a transaction on Friday, April 17th. The shares were sold at an average price of $197.98, for a total value of $1,979,800.00. Following the sale, the chief financial officer owned 221,681 shares in the company, valued at approximately $43,888,404.38. This trade represents a 4.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Cloudflare Price Performance
Shares of NYSE:NET opened at $200.85 on Friday. The business's fifty day moving average price is $196.49 and its two-hundred day moving average price is $201.00. The stock has a market cap of $70.70 billion, a PE ratio of -692.56 and a beta of 1.87. The company has a debt-to-equity ratio of 1.35, a quick ratio of 1.98 and a current ratio of 1.98. Cloudflare, Inc. has a one year low of $100.25 and a one year high of $260.00.
Cloudflare (NYSE:NET - Get Free Report) last announced its earnings results on Tuesday, February 10th. The company reported $0.28 EPS for the quarter, beating analysts' consensus estimates of $0.27 by $0.01. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.The firm had revenue of $614.51 million for the quarter, compared to analysts' expectations of $591.67 million. During the same quarter in the prior year, the firm earned $0.19 EPS. Cloudflare's quarterly revenue was up 33.6% on a year-over-year basis. On average, analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.
Institutional Inflows and Outflows
Several large investors have recently made changes to their positions in NET. Empowered Funds LLC raised its position in shares of Cloudflare by 34.2% in the 1st quarter. Empowered Funds LLC now owns 6,656 shares of the company's stock worth $750,000 after buying an additional 1,696 shares during the period. Sivia Capital Partners LLC purchased a new position in Cloudflare in the second quarter valued at about $424,000. Cerity Partners LLC raised its position in Cloudflare by 30.1% in the second quarter. Cerity Partners LLC now owns 27,531 shares of the company's stock valued at $5,391,000 after purchasing an additional 6,363 shares during the period. Sei Investments Co. raised its position in Cloudflare by 40.1% in the second quarter. Sei Investments Co. now owns 329,036 shares of the company's stock valued at $64,432,000 after purchasing an additional 94,112 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in Cloudflare by 14.6% in the second quarter. The Manufacturers Life Insurance Company now owns 16,461 shares of the company's stock valued at $3,224,000 after purchasing an additional 2,093 shares during the period. 82.68% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on NET shares. New Street Research set a $140.00 price target on Cloudflare in a research note on Wednesday, February 11th. Wolfe Research reissued a "peer perform" rating on shares of Cloudflare in a research note on Monday, January 26th. Citigroup started coverage on Cloudflare in a research note on Wednesday. They set a "buy" rating on the stock. UBS Group reissued a "neutral" rating and set a $220.00 price target on shares of Cloudflare in a research note on Wednesday, February 11th. Finally, Susquehanna set a $190.00 target price on Cloudflare in a research report on Thursday, February 12th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $232.62.
Get Our Latest Analysis on NET
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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