Insider Selling: Cloudflare Inc (NYSE:NET) COO Sells 48,500 Shares of Stock

Cloudflare Inc (NYSE:NET) COO Michelle Zatlyn sold 48,500 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The shares were sold at an average price of $22.87, for a total value of $1,109,195.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

  • On Monday, April 6th, Michelle Zatlyn sold 100,000 shares of Cloudflare stock. The stock was sold at an average price of $23.67, for a total value of $2,367,000.00.
  • On Friday, March 13th, Michelle Zatlyn sold 28,300 shares of Cloudflare stock. The stock was sold at an average price of $18.59, for a total value of $526,097.00.
  • On Wednesday, March 11th, Michelle Zatlyn sold 28,300 shares of Cloudflare stock. The stock was sold at an average price of $20.43, for a total value of $578,169.00.

Shares of NYSE NET traded up $0.04 during trading on Wednesday, hitting $22.84. The company had a trading volume of 2,083,386 shares, compared to its average volume of 2,342,117. The stock has a 50 day simple moving average of $21.43 and a 200 day simple moving average of $18.52. The company has a debt-to-equity ratio of 0.01, a quick ratio of 8.22 and a current ratio of 8.22. Cloudflare Inc has a 12 month low of $14.50 and a 12 month high of $26.28. The firm has a market capitalization of $7.29 billion and a P/E ratio of -31.72.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.10) by $0.04. The company had revenue of $83.93 million during the quarter, compared to the consensus estimate of $79.12 million. As a group, analysts predict that Cloudflare Inc will post -0.34 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of NET. Millennium Management LLC bought a new position in shares of Cloudflare in the third quarter worth about $1,272,000. Gilder Gagnon Howe & Co. LLC purchased a new stake in shares of Cloudflare during the third quarter worth about $60,419,000. Deane Retirement Strategies Inc. purchased a new stake in shares of Cloudflare during the fourth quarter worth about $2,249,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of Cloudflare during the fourth quarter worth about $206,000. Finally, California Public Employees Retirement System purchased a new stake in shares of Cloudflare during the fourth quarter worth about $3,461,000. 21.63% of the stock is currently owned by hedge funds and other institutional investors.

NET has been the topic of several recent analyst reports. BTIG Research reaffirmed a “neutral” rating and set a $23.00 price objective on shares of Cloudflare in a research report on Friday, March 27th. Jefferies Financial Group increased their price objective on Cloudflare from $18.00 to $20.00 and gave the company a “hold” rating in a research report on Friday, February 14th. They noted that the move was a valuation call. Robert W. Baird initiated coverage on Cloudflare in a research report on Thursday, January 9th. They set an “outperform” rating and a $22.00 price objective on the stock. ValuEngine raised Cloudflare from a “hold” rating to a “buy” rating in a research report on Tuesday, March 3rd. Finally, Morgan Stanley increased their target price on Cloudflare from $21.00 to $22.00 and gave the company an “equal weight” rating in a report on Wednesday, March 25th. Five research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $22.11.

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.

Further Reading: Catch-Up Contributions

Insider Buying and Selling by Quarter for Cloudflare (NYSE:NET)

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