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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $82.65, for a total value of $247,950.00. Following the completion of the transaction, the insider now owns 195,303 shares of the company’s stock, valued at approximately $16,141,792.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

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 stock was sold at an average price of $88.12, for a total value of $264,360.00.

Cloudflare Stock Up 1.3 %

NET stock opened at $85.05 on Wednesday. The company has a debt-to-equity ratio of 1.61, a current ratio of 3.51 and a quick ratio of 3.51. Cloudflare, Inc. has a 12-month low of $53.88 and a 12-month high of $116.00. The stock’s 50 day simple moving average is $76.82 and its 200 day simple moving average is $85.44.

Cloudflare (NYSE:NET) last issued its earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The firm had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. On average, equities research analysts expect that Cloudflare, Inc. will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently added to or reduced their stakes in NET. Norges Bank acquired a new stake in Cloudflare in the fourth quarter worth $221,858,000. 1832 Asset Management L.P. grew its stake in shares of Cloudflare by 121.2% in the fourth quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company’s stock worth $242,836,000 after purchasing an additional 1,597,900 shares in the last quarter. Vanguard Group Inc. grew its stake in shares of Cloudflare by 2.7% in 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 in the last quarter. Capital World Investors grew its stake in shares of Cloudflare by 2.1% in the first quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. Finally, SpiderRock Advisors LLC bought a new position in shares of Cloudflare in the first quarter worth $37,740,000. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on NET shares. Wells Fargo & Company decreased their price target on Cloudflare from $125.00 to $105.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. KeyCorp reduced their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Bank of America increased their target price on Cloudflare from $52.00 to $60.00 and gave the company an “underperform” rating in a research note on Friday, May 3rd. Citigroup reduced their target price on Cloudflare from $95.00 to $90.00 and set a “neutral” rating for the company in a research note on Thursday, May 9th. Finally, JMP Securities reiterated a “market outperform” rating and set a $120.00 target price on shares of Cloudflare in a research note on Tuesday, May 14th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price 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.