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 on 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 sale, the insider now owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Cloudflare Stock Up 17.9 %

Shares of NET stock opened at $166.88 on Friday. Cloudflare, Inc. has a 52-week low of $66.24 and a 52-week high of $171.38. The stock has a market cap of $57.27 billion, a price-to-earnings ratio of -641.83 and a beta of 1.12. The firm’s 50-day moving average is $117.55 and its 200-day moving average is $96.24. 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 announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Hartline Investment Corp grew its stake in Cloudflare by 7.6% in the 3rd quarter. Hartline Investment Corp now owns 260,379 shares of the company’s stock valued at $21,062,000 after buying an additional 18,426 shares during the last quarter. WIM INVESTMENT MANAGEMENT Ltd acquired a new position in shares of Cloudflare during the 3rd quarter worth approximately $25,588,000. Charles Schwab Investment Management Inc. grew its position in shares of Cloudflare by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,157,815 shares of the company’s stock worth $93,656,000 after purchasing an additional 29,960 shares in the last quarter. National Pension Service grew its position in shares of Cloudflare by 0.9% during the 3rd quarter. National Pension Service now owns 471,923 shares of the company’s stock worth $38,174,000 after purchasing an additional 4,062 shares in the last quarter. Finally, Strategic Blueprint LLC acquired a new position in shares of Cloudflare during the 4th quarter worth approximately $265,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on NET. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price objective (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Mizuho boosted their price objective on shares of Cloudflare from $102.00 to $125.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Scotiabank boosted their price objective on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research report on Tuesday, January 21st. Cantor Fitzgerald boosted their price objective on shares of Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday. Finally, JMP Securities boosted their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $128.48.

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.