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 business’s stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $124.16, for a total value of $372,480.00. Following the transaction, the insider now owns 185,406 shares of the company’s stock, valued at $23,020,008.96. This trade represents a 1.59 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Tuesday, April 1st, Douglas James Kramer sold 9,000 shares of Cloudflare stock. The shares were sold at an average price of $112.83, for a total transaction of $1,015,470.00.
• On Monday, February 3rd, Douglas James Kramer sold 2,481 shares of Cloudflare stock. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46.

Cloudflare Stock Up 1.3 %

Shares of Cloudflare stock opened at $124.26 on Friday. Cloudflare, Inc. has a 1 year low of $66.24 and a 1 year high of $177.37. The company has a market cap of $42.88 billion, a P/E ratio of -564.82 and a beta of 1.78. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. The stock has a 50-day moving average price of $117.80 and a 200 day moving average price of $116.52.

Cloudflare (NYSE:NET) last posted its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.18 by ($0.21). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. As a group, analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

NET has been the topic of a number of research analyst reports. Guggenheim raised their price objective on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research note on Friday, February 7th. JPMorgan Chase & Co. lifted their price target on Cloudflare from $110.00 to $115.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. UBS Group decreased their target price on Cloudflare from $165.00 to $135.00 and set a “neutral” rating for the company in a research note on Thursday, March 13th. Robert W. Baird reiterated a “neutral” rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Finally, Oppenheimer initiated coverage on shares of Cloudflare in a research note on Thursday, March 20th. They issued an “outperform” rating and a $150.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $137.70.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of the stock. Hartline Investment Corp grew its stake in Cloudflare by 1.5% in the fourth quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock valued at $28,464,000 after purchasing an additional 3,957 shares in the last quarter. Birchcreek Wealth Management LLC bought a new stake in shares of Cloudflare in the 4th quarter valued at approximately $215,000. Strategic Blueprint LLC acquired a new position in Cloudflare in the fourth quarter worth approximately $265,000. Clarendon Private LLC bought a new position in Cloudflare during the fourth quarter valued at approximately $293,000. Finally, Savant Capital LLC acquired a new stake in Cloudflare in the fourth quarter valued at approximately $237,000. 82.68% of the stock is currently owned by hedge funds and other 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.