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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the completion of the transaction, the insider now owns 185,386 shares of the company’s stock, valued at $16,425,199.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Douglas James Kramer also recently made the following trade(s):

• On Tuesday, September 3rd, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00.

Cloudflare Stock Down 1.2 %

Shares of NYSE:NET traded down $1.06 on Monday, hitting $86.49. 2,016,214 shares of the company traded hands, compared to its average volume of 3,128,919. The stock has a 50 day simple moving average of $83.82 and a 200-day simple moving average of $80.48. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. The company has a market cap of $29.55 billion, a PE ratio of -297.90 and a beta of 1.10. Cloudflare, Inc. has a 52 week low of $61.34 and a 52 week high of $116.00.

Cloudflare (NYSE:NET) last posted its earnings results 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 return on equity of 8.54% and a negative net margin of 6.90%. The business had revenue of $401.00 million during the quarter, compared to analyst estimates of $394.11 million. During the same quarter last year, the company earned ($0.12) EPS. The company’s quarterly revenue was up 30.0% compared to the same quarter last year. As a group, research analysts expect that Cloudflare, Inc. will post -0.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho upped their price target on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Susquehanna raised their price target on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Monday, August 5th. Needham & Company LLC reiterated a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Cantor Fitzgerald increased their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research note on Friday, August 2nd. Finally, Royal Bank of Canada lifted their target price on shares of Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average target price of $91.72.

Institutional Trading of Cloudflare

Large investors have recently made changes to their positions in the stock. Allspring Global Investments Holdings LLC boosted its position in Cloudflare by 595.0% in the first quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares during the last quarter. First Trust Direct Indexing L.P. bought a new stake in Cloudflare during the first quarter valued at approximately $295,000. Private Advisor Group LLC raised its position in Cloudflare by 22.0% in the first quarter. Private Advisor Group LLC now owns 18,662 shares of the company’s stock worth $1,807,000 after acquiring an additional 3,362 shares during the period. Sequoia Financial Advisors LLC purchased a new position in shares of Cloudflare during the 1st quarter worth $239,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Cloudflare by 13.6% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,185 shares of the company’s stock valued at $4,340,000 after acquiring an additional 5,392 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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.