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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $82.65, for a total value of $247,950.00. Following the transaction, the insider now directly owns 195,303 shares in the company, valued at approximately $16,141,792.95. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Wednesday, May 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $88.12, for a total value of $264,360.00.

Cloudflare Stock Performance

Cloudflare stock opened at $85.05 on Wednesday. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51. Cloudflare, Inc. has a one year low of $53.88 and a one year high of $116.00. The business has a 50 day simple moving average of $76.82 and a 200 day simple moving average of $85.44.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $378.60 million during the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. Research analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Hedge Funds Weigh In On Cloudflare

Several institutional investors have recently bought and sold shares of NET. Riverview Trust Co bought a new position in Cloudflare in the 1st quarter valued at $27,000. Allspring Global Investments Holdings LLC raised its position in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock valued at $27,000 after purchasing an additional 238 shares during the last quarter. ICA Group Wealth Management LLC bought a new position in Cloudflare in the 4th quarter valued at $38,000. GAMMA Investing LLC bought a new position in Cloudflare in the 4th quarter valued at $39,000. Finally, Pingora Partners LLC bought a new position in Cloudflare in the 4th quarter valued at $42,000. Institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

NET has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Cloudflare in a report on Friday, May 31st. Royal Bank of Canada lowered their target price on Cloudflare from $108.00 to $90.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Bank of America raised their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a report on Friday, May 3rd. Wells Fargo & Company lowered their target price on Cloudflare from $125.00 to $105.00 and set an “overweight” rating on the stock in a report on Friday, May 3rd. Finally, TD Cowen decreased their price objective on Cloudflare from $117.00 to $110.00 and set a “buy” rating on the stock in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $90.96.

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.