Cloudflare, Inc. (NYSE:NET) COO Michelle Zatlyn sold 48,600 shares of the firm’s stock in a transaction on Wednesday, October 14th. The stock was sold at an average price of $59.67, for a total transaction of $2,899,962.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Michelle Zatlyn also recently made the following trade(s):

  • On Friday, October 16th, Michelle Zatlyn sold 48,700 shares of Cloudflare stock. The stock was sold at an average price of $58.96, for a total transaction of $2,871,352.00.
  • On Monday, September 21st, Michelle Zatlyn sold 48,500 shares of Cloudflare stock. The stock was sold at an average price of $37.87, for a total transaction of $1,836,695.00.
  • On Thursday, September 17th, Michelle Zatlyn sold 48,500 shares of Cloudflare stock. The stock was sold at an average price of $35.73, for a total transaction of $1,732,905.00.
  • On Monday, August 17th, Michelle Zatlyn sold 48,500 shares of Cloudflare stock. The shares were sold at an average price of $39.25, for a total transaction of $1,903,625.00.
  • On Wednesday, August 19th, Michelle Zatlyn sold 145,500 shares of Cloudflare stock. The shares were sold at an average price of $39.59, for a total transaction of $5,760,345.00.

Shares of NYSE NET opened at $58.29 on Friday. The company has a market cap of $17.82 billion and a PE ratio of -89.68. Cloudflare, Inc. has a 12 month low of $14.50 and a 12 month high of $61.86. The company has a debt-to-equity ratio of 0.44, a current ratio of 9.38 and a quick ratio of 9.38. The company has a 50-day simple moving average of $40.47 and a 200-day simple moving average of $33.90.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, August 6th. The company reported ($0.03) EPS for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.03. The business had revenue of $99.70 million during the quarter, compared to the consensus estimate of $94.17 million. Cloudflare had a negative net margin of 36.66% and a negative return on equity of 15.35%. The company’s quarterly revenue was up 47.9% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) earnings per share. On average, analysts anticipate that Cloudflare, Inc. will post -0.34 EPS for the current year.

Several brokerages recently commented on NET. JPMorgan Chase & Co. raised their price objective on shares of Cloudflare from $30.00 to $52.00 and gave the company an “overweight” rating in a research note on Friday, July 10th. Morgan Stanley raised their price objective on shares of Cloudflare from $34.00 to $42.00 and gave the company an “equal weight” rating in a research note on Friday, August 14th. Robert W. Baird raised their price objective on shares of Cloudflare from $30.00 to $45.00 and gave the company an “outperform” rating in a research note on Thursday, July 30th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on shares of Cloudflare from $29.00 to $48.00 in a research note on Tuesday, August 4th. Finally, Jefferies Financial Group upgraded shares of Cloudflare from a “hold” rating to a “buy” rating and raised their price objective for the company from $27.00 to $50.00 in a research note on Tuesday, July 28th. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Cloudflare has an average rating of “Buy” and a consensus price target of $40.41.

Several hedge funds and other institutional investors have recently modified their holdings of NET. Venrock Management V LLC bought a new stake in Cloudflare during the second quarter valued at $1,128,765,000. FMR LLC increased its stake in Cloudflare by 13.9% during the second quarter. FMR LLC now owns 24,729,579 shares of the company’s stock valued at $889,029,000 after purchasing an additional 3,012,041 shares during the last quarter. Vanguard Group Inc. increased its stake in Cloudflare by 169.5% during the second quarter. Vanguard Group Inc. now owns 9,213,102 shares of the company’s stock valued at $331,210,000 after purchasing an additional 5,795,087 shares during the last quarter. Gilder Gagnon Howe & Co. LLC increased its stake in Cloudflare by 38.9% during the second quarter. Gilder Gagnon Howe & Co. LLC now owns 5,100,558 shares of the company’s stock valued at $183,365,000 after purchasing an additional 1,429,447 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Cloudflare by 182.6% during the second quarter. First Trust Advisors LP now owns 3,185,622 shares of the company’s stock worth $114,523,000 after acquiring an additional 2,058,554 shares during the last quarter. Institutional investors and hedge funds own 47.78% of the company’s stock.

About Cloudflare

CloudFlare, Inc operates a cloud platform that delivers a range of network 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 Internet of Things (IoT) devices.

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