Cloudflare (NYSE:NET) Stock Price Down 3.1%

Cloudflare, Inc. (NYSE:NET) fell 3.1% during trading on Wednesday . The company traded as low as $95.88 and last traded at $95.96. 1,141,247 shares changed hands during mid-day trading, a decline of 72% from the average session volume of 4,148,491 shares. The stock had previously closed at $99.07.

Analyst Ratings Changes

A number of brokerages recently commented on NET. Capital One Financial began coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They issued an “equal weight” rating and a $83.00 price objective on the stock. Sanford C. Bernstein initiated coverage on shares of Cloudflare in a research note on Thursday, January 18th. They set a “market perform” rating and a $85.00 price target on the stock. Susquehanna raised their price target on shares of Cloudflare from $75.00 to $115.00 and gave the stock a “neutral” rating in a research note on Friday, February 9th. Morgan Stanley raised their price target on shares of Cloudflare from $66.00 to $92.00 and gave the stock an “equal weight” rating in a research note on Monday, February 12th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and set a $100.00 price objective (up from $70.00) on shares of Cloudflare in a report on Friday, February 9th. Four analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $87.50.

Cloudflare Price Performance

The firm has a market cap of $32.70 billion, a price-to-earnings ratio of -175.96 and a beta of 1.14. The business’s 50-day moving average price is $93.55 and its two-hundred day moving average price is $78.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. On average, research analysts forecast that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the completion of the transaction, the insider now owns 216,114 shares of the company’s stock, valued at $17,202,674.40. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CFO Thomas J. Seifert sold 50,000 shares of Cloudflare stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $110.11, for a total transaction of $5,505,500.00. Following the sale, the chief financial officer now directly owns 366,465 shares in the company, valued at $40,351,461.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $79.60, for a total transaction of $238,800.00. Following the sale, the insider now owns 216,114 shares in the company, valued at $17,202,674.40. The disclosure for this sale can be found here. Insiders sold a total of 1,079,809 shares of company stock valued at $101,239,047 over the last 90 days. 14.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Cloudflare

Several hedge funds and other institutional investors have recently bought and sold shares of NET. PNC Financial Services Group Inc. raised its position in Cloudflare by 48.6% in the first quarter. PNC Financial Services Group Inc. now owns 8,903 shares of the company’s stock worth $1,066,000 after acquiring an additional 2,912 shares in the last quarter. MetLife Investment Management LLC purchased a new position in Cloudflare in the 1st quarter worth about $1,950,000. Synovus Financial Corp purchased a new position in Cloudflare in the 1st quarter worth about $439,000. Cibc World Market Inc. increased its stake in Cloudflare by 16.8% in the 1st quarter. Cibc World Market Inc. now owns 21,811 shares of the company’s stock worth $2,611,000 after purchasing an additional 3,140 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Cloudflare by 10.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 181,514 shares of the company’s stock valued at $21,732,000 after acquiring an additional 17,681 shares in the last quarter. 82.68% of the stock is currently owned by institutional investors.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of 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 IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.