Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 9,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 9,000 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now directly owns 188,406 shares in the company, valued at $21,257,848.98. This trade represents a 4.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

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

• 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 value of $326,648.46.

Cloudflare Stock Performance

NYSE:NET traded down $10.00 during mid-day trading on Friday, reaching $97.39. The stock had a trading volume of 6,601,010 shares, compared to its average volume of 3,126,532. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. Cloudflare, Inc. has a twelve month low of $66.24 and a twelve month high of $177.37. The firm has a market capitalization of $33.61 billion, a price-to-earnings ratio of -442.68 and a beta of 1.59. The business has a 50 day simple moving average of $136.35 and a 200 day simple moving average of $112.90.

Remove Ads

Cloudflare (NYSE:NET - Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. On average, analysts expect that Cloudflare, Inc. will post -0.11 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NET. Cerity Partners LLC boosted its position in shares of Cloudflare by 306.4% in the third quarter. Cerity Partners LLC now owns 18,416 shares of the company's stock worth $1,490,000 after buying an additional 13,885 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in shares of Cloudflare by 5.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,308 shares of the company's stock valued at $1,157,000 after acquiring an additional 734 shares during the period. CreativeOne Wealth LLC raised its holdings in shares of Cloudflare by 13.3% during the third quarter. CreativeOne Wealth LLC now owns 6,924 shares of the company's stock valued at $560,000 after buying an additional 811 shares during the last quarter. Captrust Financial Advisors boosted its position in Cloudflare by 596.2% during the 3rd quarter. Captrust Financial Advisors now owns 39,827 shares of the company's stock worth $3,222,000 after acquiring an additional 34,106 shares during the period. Finally, Erste Asset Management GmbH acquired a new position in Cloudflare during the 3rd quarter valued at about $6,548,000. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a research report on Friday, February 7th. UBS Group reduced their target price on shares of Cloudflare from $165.00 to $135.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Citigroup raised shares of Cloudflare from a "neutral" rating to a "buy" rating and increased their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Oppenheimer began coverage on Cloudflare in a research report on Thursday, March 20th. They set an "outperform" rating and a $150.00 price objective on the stock. Finally, Bank of America upgraded Cloudflare from an "underperform" rating to a "buy" rating and lifted their target price for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. Three 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. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $135.64.

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.