Cloudflare, Inc. (NYSE:NET) Insider Douglas James Kramer Sells 3,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) 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.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, August 1st. The company reported $0.20 EPS for the quarter, topping analysts’ consensus estimates of $0.14 by $0.06. Cloudflare had a negative net margin of 6.90% and a negative return on equity of 8.54%. The company had revenue of $401.00 million during the quarter, compared to the consensus estimate of $394.11 million. During the same period in the prior year, the business posted ($0.12) EPS. The company’s quarterly revenue was up 30.0% on a year-over-year basis. Equities analysts forecast that Cloudflare, Inc. will post -0.14 earnings per share for the current fiscal year.

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.

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.