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Cloudflare, Inc. (NYSE:NET) Chief Financial Officer Thomas J. Seifert recently executed a series of stock transactions, including significant sales of the company’s Class A common stock. According to a recent SEC filing, Seifert sold shares amounting to a total value of approximately $4.64 million. The sales were conducted at prices ranging from $160.39 to $166.97 per share, near the stock’s 52-week high of $177.37. InvestingPro data shows NET has delivered impressive returns, gaining over 71% in the past year and currently trades at elevated multiples.
In addition to the sales, Seifert also reported an acquisition of 15,000 shares through a conversion of Class B common stock to Class A common stock. This transaction did not involve any monetary exchange as it was an internal conversion.
Following these transactions, Seifert’s direct ownership of Cloudflare shares stands at 293,582 shares. The sales were carried out under a pre-established Rule 10b5-1 trading plan, which was adopted in late 2023. This plan allows corporate insiders to set up a predetermined schedule for selling company shares, providing a measure of protection against accusations of insider trading.
In other recent news, Cloudflare Inc . reported a 27% year-over-year revenue increase, surpassing expectations from both Mizuho (NYSE:MFG) and Wall Street. The company’s strong fourth-quarter performance also included a 47% rise in customers with annual spending above $1 million, as noted by TD Cowen. RBC Capital Markets raised Cloudflare’s price target to $170, citing the company’s effective go-to-market strategy and strong year-end results. Citi analysts increased their price target to $180, highlighting Cloudflare’s significant new customer acquisition and improved sales efficiency. Piper Sandler also adjusted its price target to $153, mentioning the potential for re-acceleration in the second half of 2025. Mizuho maintained a neutral rating, while acknowledging Cloudflare’s scalable architecture and innovation potential. TD Cowen and Citi both retained a Buy rating, reflecting confidence in Cloudflare’s growth trajectory. Analysts from RBC Capital and Piper Sandler expressed interest in upcoming events, such as the investor day in March 2025, to gain further insights into Cloudflare’s strategies. These developments illustrate Cloudflare’s ongoing efforts to expand its market presence and enhance sales productivity.
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