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Michelle Zatlyn, President and Board Co-Chair of Cloudflare, Inc. (NYSE:NET), recently executed a series of stock transactions, according to a regulatory filing. On March 25, 26, and 27, Zatlyn sold a total of 73,173 shares of Class A Common Stock. The sales, conducted as part of a pre-established trading plan, were completed at prices ranging from $116.33 to $131.93 per share, leading to a total transaction value of approximately $9.59 million. The transactions come as Cloudflare, now valued at $41.78 billion, maintains impressive gross profit margins of 77.32% and has seen its stock surge 45% over the past six months. According to InvestingPro analysis, the stock appears to be trading above its Fair Value.
These transactions were part of a broader strategy, as Zatlyn also exercised options to acquire shares of Class B Common Stock, which can be converted into Class A shares. The shares were held through various trusts, with Zatlyn serving as either co-trustee or appointer. InvestingPro subscribers can access 12 additional key insights about Cloudflare’s valuation and financial health through the platform’s comprehensive Pro Research Report.
In other recent news, Cloudflare has made significant strides in its business operations and strategic initiatives. The company has enhanced its board of directors by adding three new members, including Stacey Cunningham, John Graham-Cumming, and Dr. Karim Lakhani, bringing expertise in finance, technology, and AI-driven business transformation. Meanwhile, Cloudflare introduced a new suite of security tools called Cloudflare for AI, aimed at protecting AI applications from data leakage and misuse, reflecting the company’s commitment to addressing security risks in AI technology.
Additionally, Goldman Sachs reiterated a Buy rating for Cloudflare, setting a price target of $161, highlighting the growth potential in AI inference and the company’s Act III products. JMP analysts also maintained a Market Outperform rating with a $180 price target, following Cloudflare’s Investor Day, where the company showcased its AI and developer strategies. Furthermore, TD Cowen affirmed its Buy rating and a $162 price target, emphasizing Cloudflare’s execution strategies and market expansion.
Cloudflare’s financial goals include achieving $5 billion in annual recurring revenue by 2028, supported by a target operating model with 25% free cash flow margins. The company’s strategic initiatives, such as adding GPU cards to servers and expanding its developer platform, are seen as key drivers for future growth. As Cloudflare continues to innovate and expand its market presence, these developments are crucial for investors to consider.
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