Cloudflare, Inc. (NYSE:NET – Get Free Report) insider Douglas James Kramer sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $81.53, for a total value of $244,590.00. Following the sale, the insider now owns 185,386 shares in the company, valued at $15,114,520.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Douglas James Kramer also recently made the following trade(s):
- On Thursday, August 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $77.17, for a total value of $231,510.00.
- On Monday, July 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $82.65, for a total value of $247,950.00.
Cloudflare Stock Down 0.1 %
NYSE NET opened at $78.04 on Thursday. The company has a market capitalization of $26.52 billion, a price-to-earnings ratio of -147.25 and a beta of 1.10. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The stock’s 50 day moving average is $80.61 and its two-hundred day moving average is $84.06.
Wall Street Analyst Weigh In
Several research firms recently weighed in on NET. Needham & Company LLC reiterated a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, August 2nd. Cantor Fitzgerald lifted their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Friday, August 2nd. Citigroup reduced their target price on Cloudflare from $95.00 to $90.00 and set a “neutral” rating on the stock in a report on Thursday, May 9th. JMP Securities reaffirmed a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a report on Tuesday, May 14th. Finally, Mizuho lifted their target price on Cloudflare from $88.00 to $92.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $92.29.
View Our Latest Stock Report on Cloudflare
Institutional Trading of Cloudflare
Several large investors have recently made changes to their positions in NET. Nomura Asset Management Co. Ltd. grew its stake in Cloudflare by 6.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock valued at $5,808,000 after buying an additional 4,300 shares in the last quarter. Truist Financial Corp grew its stake in Cloudflare by 1.2% during the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock valued at $2,364,000 after acquiring an additional 331 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Cloudflare by 5.1% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock worth $5,478,000 after buying an additional 3,164 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Cloudflare by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock valued at $2,344,534,000 after buying an additional 740,914 shares in the last quarter. Finally, Insight Holdings Group LLC bought a new stake in Cloudflare during the 4th quarter valued at about $1,141,000. 82.68% of the stock is currently owned by institutional investors and hedge funds.
About Cloudflare
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.
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