Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells $244,590.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $81.53, for a total value of $244,590.00. Following the completion of the sale, the insider now directly owns 185,386 shares of the company’s stock, valued at $15,114,520.58. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

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 stock was 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 stock was sold at an average price of $82.65, for a total value of $247,950.00.

Cloudflare Stock Performance

Shares of NET opened at $76.03 on Friday. The stock has a 50-day simple moving average of $80.41 and a 200-day simple moving average of $83.86. The company has a debt-to-equity ratio of 1.46, a quick ratio of 3.51 and a current ratio of 3.51. The stock has a market capitalization of $25.83 billion, a PE ratio of -143.45 and a beta of 1.10. Cloudflare, Inc. has a 1 year low of $53.88 and a 1 year high of $116.00.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Susquehanna raised their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Monday, August 5th. Cantor Fitzgerald raised their target price on Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Wolfe Research started coverage on Cloudflare in a research report on Tuesday, July 16th. They set a “peer perform” rating for the company. Scotiabank started coverage on Cloudflare in a research report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $135.00 price objective on shares of Cloudflare in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $92.29.

Institutional Investors Weigh In On Cloudflare

Institutional investors have recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. lifted its stake in Cloudflare by 6.6% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 69,760 shares of the company’s stock worth $5,808,000 after purchasing an additional 4,300 shares during the last quarter. Truist Financial Corp lifted its stake in Cloudflare by 1.2% during the fourth quarter. Truist Financial Corp now owns 28,388 shares of the company’s stock worth $2,364,000 after purchasing an additional 331 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Cloudflare by 5.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 65,790 shares of the company’s stock worth $5,478,000 after purchasing an additional 3,164 shares during the last quarter. Vanguard Group Inc. lifted its stake in Cloudflare by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 28,159,189 shares of the company’s stock worth $2,344,534,000 after purchasing an additional 740,914 shares during the last quarter. Finally, Insight Holdings Group LLC purchased a new stake in Cloudflare during the fourth quarter worth approximately $1,141,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.