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 Cloudflare stock in a transaction dated Friday, August 1st. The stock was sold at an average price of $198.22, for a total value of $594,660.00. Following the completion of the sale, the insider directly owned 157,377 shares in the company, valued at $31,195,268.94. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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

• On Tuesday, July 1st, Douglas James Kramer sold 9,000 shares of Cloudflare stock. The stock was sold at an average price of $196.09, for a total value of $1,764,810.00.
• On Monday, June 2nd, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $166.00, for a total value of $498,000.00.

Cloudflare Trading Up 3.6%

NYSE NET opened at $215.19 on Thursday. Cloudflare, Inc. has a one year low of $74.88 and a one year high of $215.58. The company has a debt-to-equity ratio of 2.63, a quick ratio of 5.14 and a current ratio of 5.14. The company has a market capitalization of $74.59 billion, a price-to-earnings ratio of -632.91 and a beta of 1.84. The company’s 50-day simple moving average is $187.48 and its two-hundred day simple moving average is $151.01.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $512.32 million for the quarter, compared to analyst estimates of $501.58 million. Cloudflare had a negative net margin of 6.22% and a negative return on equity of 8.42%. Cloudflare’s revenue was up 27.8% compared to the same quarter last year. During the same period last year, the company posted $0.20 earnings per share. Equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Daymark Wealth Partners LLC grew its stake in Cloudflare by 1.1% in the second quarter. Daymark Wealth Partners LLC now owns 4,556 shares of the company’s stock valued at $892,000 after purchasing an additional 51 shares during the last quarter. Huntington National Bank boosted its holdings in shares of Cloudflare by 22.8% in the 2nd quarter. Huntington National Bank now owns 280 shares of the company’s stock valued at $55,000 after buying an additional 52 shares in the last quarter. ORG Partners LLC grew its position in shares of Cloudflare by 11.9% in the 2nd quarter. ORG Partners LLC now owns 498 shares of the company’s stock worth $92,000 after buying an additional 53 shares during the last quarter. Fiduciary Planning LLC raised its stake in shares of Cloudflare by 3.0% during the 2nd quarter. Fiduciary Planning LLC now owns 1,854 shares of the company’s stock worth $363,000 after acquiring an additional 54 shares in the last quarter. Finally, CreativeOne Wealth LLC lifted its position in Cloudflare by 0.8% during the fourth quarter. CreativeOne Wealth LLC now owns 6,982 shares of the company’s stock valued at $752,000 after acquiring an additional 58 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently commented on NET shares. DZ Bank reaffirmed a “sell” rating and issued a $170.00 price target on shares of Cloudflare in a report on Tuesday, July 22nd. KeyCorp lifted their target price on Cloudflare from $210.00 to $235.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. CICC Research upgraded Cloudflare from a “market perform” rating to an “outperform” rating and set a $154.00 price target on the stock in a report on Monday, May 12th. Jefferies Financial Group dropped their price objective on shares of Cloudflare from $170.00 to $150.00 and set a “hold” rating for the company in a research note on Friday, May 9th. Finally, Piper Sandler boosted their price objective on shares of Cloudflare from $151.00 to $224.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Three research analysts have rated the stock with a sell rating, nine have given a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Cloudflare currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.88.

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.