Cloudflare, Inc. (NYSE:NET) Insider Douglas James Kramer Sells 2,481 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 2,481 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total value of $326,648.46. Following the transaction, the insider now owns 175,688 shares of the company’s stock, valued at approximately $23,131,082.08. This represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Cloudflare Stock Up 2.9 %

NYSE NET opened at $144.14 on Thursday. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $144.30. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. The firm’s fifty day simple moving average is $116.71 and its 200-day simple moving average is $95.92.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.03). The business had revenue of $430.08 million for the quarter, compared to the consensus estimate of $423.65 million. Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Analysts expect that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Large investors have recently bought and sold shares of the business. CVA Family Office LLC boosted its holdings in Cloudflare by 121.3% in the third quarter. CVA Family Office LLC now owns 312 shares of the company’s stock worth $25,000 after purchasing an additional 171 shares in the last quarter. Quarry LP boosted its holdings in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock worth $29,000 after purchasing an additional 146 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in Cloudflare in the third quarter worth $38,000. Versant Capital Management Inc boosted its holdings in Cloudflare by 44.9% in the fourth quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock worth $59,000 after purchasing an additional 170 shares in the last quarter. Finally, GAMMA Investing LLC boosted its holdings in Cloudflare by 59.0% during the fourth quarter. GAMMA Investing LLC now owns 585 shares of the company’s stock valued at $63,000 after acquiring an additional 217 shares during the period. 82.68% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently issued reports on NET. UBS Group boosted their price objective on Cloudflare from $88.00 to $95.00 and gave the stock a “neutral” rating in a research report on Friday, November 8th. Royal Bank of Canada upped their target price on Cloudflare from $99.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, January 3rd. Wells Fargo & Company upped their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. Baird R W downgraded Cloudflare from a “strong-buy” rating to a “hold” rating in a research report on Monday. Finally, Citigroup upgraded Cloudflare from a “neutral” rating to a “buy” rating and upped their target price for the stock from $95.00 to $145.00 in a research report on Friday, January 17th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $112.32.

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.