Cloudflare (NYSE:NET) CAO Janel Riley Sells 23,332 Shares

Cloudflare, Inc. (NYSE:NET) CAO Janel Riley sold 23,332 shares of the stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $190.00, for a total transaction of $4,433,080.00. Following the completion of the sale, the chief accounting officer owned 56,791 shares of the company’s stock, valued at approximately $10,790,290. The trade was a 29.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Cloudflare Stock Performance

NET traded up $2.48 on Friday, hitting $194.79. 2,860,230 shares of the stock traded hands, compared to its average volume of 5,006,934. The business has a fifty day moving average price of $184.45 and a two-hundred day moving average price of $202.53. The company has a current ratio of 1.98, a quick ratio of 1.98 and a debt-to-equity ratio of 1.35. The firm has a market capitalization of $68.23 billion, a PE ratio of -671.67 and a beta of 1.98. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Tuesday, February 10th. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.27 by $0.01. The business had revenue of $614.51 million for the quarter, compared to analysts’ expectations of $591.67 million. Cloudflare had a negative return on equity of 7.24% and a negative net margin of 4.72%.Cloudflare’s quarterly revenue was up 33.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.19 earnings per share. On average, research analysts predict that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on NET shares. DZ Bank raised shares of Cloudflare from a “hold” rating to a “buy” rating and set a $215.00 target price on the stock in a research note on Friday, February 13th. Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a report on Monday, January 26th. Wall Street Zen upgraded Cloudflare from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Guggenheim upped their price target on Cloudflare from $117.00 to $140.00 and gave the company a “sell” rating in a research report on Wednesday, February 11th. Finally, Robert W. Baird set a $260.00 price objective on Cloudflare and gave the stock an “outperform” rating in a research note on Wednesday, February 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $230.70.

Hedge Funds Weigh In On Cloudflare

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Reflection Asset Management acquired a new position in Cloudflare during the 4th quarter worth about $86,000. MidFirst Bank bought a new position in shares of Cloudflare in the fourth quarter worth about $801,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in shares of Cloudflare during the fourth quarter worth approximately $232,000. Sunbelt Securities Inc. lifted its position in shares of Cloudflare by 18.4% during the fourth quarter. Sunbelt Securities Inc. now owns 1,409 shares of the company’s stock worth $278,000 after purchasing an additional 219 shares in the last quarter. Finally, Corient Private Wealth LLC grew its stake in shares of Cloudflare by 4,042.6% during the fourth quarter. Corient Private Wealth LLC now owns 1,399,378 shares of the company’s stock valued at $275,887,000 after purchasing an additional 1,365,598 shares during the last quarter. Institutional investors and hedge funds own 82.68% of the company’s stock.

Cloudflare Company Profile

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.