Cloudflare, Inc. (NYSE:NET) Insider Douglas James Kramer Sells 2,481 Shares

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 2,481 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the completion of the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. The trade was a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Cloudflare Price Performance

NET opened at $141.25 on Friday. The company’s 50-day simple moving average is $116.71 and its two-hundred day simple moving average is $95.92. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $144.30. The stock has a market capitalization of $48.47 billion, a P/E ratio of -543.25 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. As a group, analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Cantor Fitzgerald initiated coverage on Cloudflare in a research report on Friday, January 17th. They issued a “neutral” rating and a $111.00 target price for the company. Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $95.00 to $145.00 in a report on Friday, January 17th. Jefferies Financial Group boosted their target price on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a report on Thursday, December 19th. Truist Financial upped their target price on shares of Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, January 28th. Finally, UBS Group lifted their price target on shares of Cloudflare from $88.00 to $95.00 and gave the company a “neutral” rating in a research report on Friday, November 8th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $112.32.

Institutional Trading of Cloudflare

Hedge funds have recently bought and sold shares of the company. CVA Family Office LLC grew its stake in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after purchasing an additional 171 shares during the period. Quarry LP boosted its holdings in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after buying an additional 146 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare during the third quarter valued at approximately $38,000. Versant Capital Management Inc increased its holdings in Cloudflare by 44.9% during the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after buying an additional 170 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in Cloudflare by 59.0% in the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock worth $63,000 after acquiring an additional 217 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Cloudflare Company Profile

Cloudflare, Inc operates as a cloud services provider that delivers a range of services to businesses worldwide. The company provides an integrated cloud-based security solution to secure a range of combination of platforms, including public cloud, private cloud, on-premise, software-as-a-service applications, and IoT devices; and website and application security products comprising web application firewall, bot management, distributed denial of service, API gateways, SSL/TLS encryption, script management, security center, and rate limiting products.