Cloudflare CFO Thomas J. Seifert Sells 31,136 Shares
On January 21st, Thomas J. Seifert, the Chief Financial Officer (CFO) of Cloudflare, Inc. (NYSE:NET), sold 31,136 shares of the company's stock. The shares were sold at an average price of $120.10 each, resulting in a total transaction value of $3,739,433.60. As a result of this sale, Seifert now directly holds 252,869 shares in Cloudflare, which are currently valued at approximately $30,369,566.90. This sale indicates a 10.96% reduction in his ownership stake in the company. The transaction was made public in a filing with the Securities and Exchange Commission (SEC).
Cloudflare Stock Performance
On the day of Seifert's sale, Cloudflare shares rose by 2.3%, gaining $2.65 and reaching a price of $119.81 during trading hours. The trading volume for the day was 2,699,364 shares, slightly below the average volume of 2,762,995 shares. The company has a market capitalization of $41.12 billion, with a price-to-earnings ratio of -460.81 and a beta of 1.10. Financial ratios indicate a debt-to-equity ratio of 1.32, along with both quick and current ratios standing at 3.37. Over the past twelve months, Cloudflare's stock has seen a low of $66.24 and a high of $121.02, while the fifty-day moving average is $108.20 and the 200-day moving average is $91.77.
Recent Earnings Report
Cloudflare's most recent quarterly earnings report was released on November 7th. The company reported an earnings per share (EPS) of ($0.03), which matched analysts' expectations. Cloudflare's revenue for the quarter amounted to $430.08 million, surpassing the average forecast of $423.65 million. However, the company reported a negative net margin of 5.97% and a negative return on equity of 7.18%. Analysts project that Cloudflare, Inc. may record an EPS of -0.1 for the current financial year.
Analyst Ratings and Price Targets
Various equity analysts have recently provided updates on Cloudflare’s stock. Piper Sandler raised their price target from $83.00 to $92.00 and maintained a "neutral" rating on the shares. Meanwhile, Mizuho also increased their price target from $102.00 to $125.00, classifying the stock as