Cloudflare (NYSE:NET) Director Mark Hawkins Sells 134 Shares

by · The Markets Daily

Cloudflare, Inc. (NYSE:NET – Get Free Report) Director Mark Hawkins sold 134 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $176.19, for a total transaction of $23,609.46. Following the completion of the transaction, the director owned 10,588 shares of the company’s stock, valued at $1,865,499.72. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Cloudflare Price Performance

Cloudflare stock traded down $12.26 during midday trading on Tuesday, reaching $170.16. 7,639,533 shares of the stock were exchanged, compared to its average volume of 4,326,300. Cloudflare, Inc. has a 52 week low of $89.42 and a 52 week high of $260.00. The company has a debt-to-equity ratio of 1.46, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market cap of $59.60 billion, a PE ratio of -567.21, a PEG ratio of 153.72 and a beta of 1.97. The company’s fifty day moving average is $194.30 and its 200-day moving average is $205.99.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NET shares. Needham & Company LLC lifted their price objective on Cloudflare from $240.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, October 31st. Citizens Jmp raised their price target on Cloudflare from $250.00 to $270.00 and gave the company a “market outperform” rating in a report on Friday, October 31st. Mizuho cut their price objective on Cloudflare from $280.00 to $255.00 and set an “outperform” rating for the company in a report on Wednesday, January 21st. Piper Sandler lowered their target price on shares of Cloudflare from $249.00 to $220.00 and set a “neutral” rating on the stock in a research note on Monday, January 5th. Finally, Susquehanna boosted their price target on shares of Cloudflare from $205.00 to $260.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Cloudflare presently has a consensus rating of “Moderate Buy” and a consensus price target of $232.48.

View Our Latest Stock Analysis on NET

Institutional Investors Weigh In On Cloudflare

A number of hedge funds have recently made changes to their positions in the business. Reliant Investment Partners LLC lifted its stake in Cloudflare by 1.5% in the third quarter. Reliant Investment Partners LLC now owns 3,316 shares of the company’s stock worth $718,000 after purchasing an additional 50 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Cloudflare by 1.1% in the second quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock worth $892,000 after buying an additional 51 shares during the period. Frank Rimerman Advisors LLC lifted its stake in shares of Cloudflare by 1.8% in the 3rd quarter. Frank Rimerman Advisors LLC now owns 2,821 shares of the company’s stock valued at $605,000 after acquiring an additional 51 shares during the last quarter. Huntington National Bank boosted its holdings in Cloudflare by 22.8% during the 2nd quarter. Huntington National Bank now owns 280 shares of the company’s stock valued at $55,000 after acquiring an additional 52 shares during the period. Finally, Fiduciary Planning LLC grew its position in Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after acquiring an additional 54 shares during the last quarter. 82.68% of the stock is currently owned by institutional investors.

About Cloudflare

(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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