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SAN FRANCISCO—Riley Janel, the Chief Accounting Officer of Cloudflare, Inc. (NYSE:NET), recently executed a series of stock transactions, according to a recent SEC filing. The company, currently valued at $55.24 billion, has seen its stock surge over 56% year-to-date, according to InvestingPro data. The transactions, conducted on February 18th, involved the sale of 4,327 shares of Class A Common Stock, generating a total of $725,195. The shares were sold at prices ranging from $166.41 to $169.53.
These sales were carried out under a Rule 10b5-1 trading plan, which Janel adopted on February 28, 2024. Following these transactions, Janel’s direct ownership now stands at 74,698 shares.
Additionally, on February 15th, 2,760 shares were withheld to cover tax liabilities related to the vesting of restricted stock units at a price of $171.16 per share. While the company maintains impressive gross profit margins of 77.3%, InvestingPro subscribers can access 16 additional key insights about Cloudflare’s financial health and growth prospects through the comprehensive Pro Research Report.
In other recent news, Cloudflare Inc . has seen several analysts adjust their price targets following the company’s strong financial performance. The company reported a 27% year-over-year increase in revenue, surpassing expectations and prompting Mizuho (NYSE:MFG) to raise its price target to $160 while maintaining a neutral rating. Similarly, TD Cowen increased its price target to $162, highlighting Cloudflare’s effective execution and increased customer spending, with a Buy rating reaffirmed. RBC Capital also raised its price target to $170, citing Cloudflare’s robust year-end performance and successful go-to-market strategy, maintaining an Outperform rating.
Citi analysts raised their target to $180, noting significant new customer acquisitions and improved sales efficiency, while maintaining a Buy rating. Piper Sandler increased their target to $153, acknowledging management’s expectations for a re-acceleration in the latter half of 2025, yet maintained a Neutral rating due to high valuation concerns. Across the board, Cloudflare’s recent achievements have been recognized, with analysts anticipating further growth, particularly in the enterprise sector and AI-inferencing market. Despite some conservative projections for early 2025, the company’s strategic initiatives and market positioning have garnered positive attention from investors and analysts alike.
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