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

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 3,000 shares of the business'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 directly owns 195,303 shares in the company, valued at $16,141,792.95. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 Trading Up 1.3 %

Shares of NYSE:NET traded up $1.10 during midday trading on Tuesday, hitting $85.05. The company had a trading volume of 2,222,355 shares, compared to its average volume of 3,721,035. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.61. The stock has a market cap of $28.90 billion, a price-to-earnings ratio of -158.38 and a beta of 1.10. The firm has a fifty day simple moving average of $76.88 and a 200 day simple moving average of $85.44.

Cloudflare (NYSE:NET - Get Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.03) EPS for the quarter, topping the consensus estimate of ($0.05) by $0.02. The business had revenue of $378.60 million for the quarter, compared to the consensus estimate of $372.93 million. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. On average, analysts predict that Cloudflare, Inc. will post -0.19 EPS for the current year.

Institutional Trading of Cloudflare

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company's stock worth $2,766,632,000 after buying an additional 412,864 shares during the period. Capital World Investors raised its stake in Cloudflare by 2.1% during the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company's stock worth $2,723,685,000 after buying an additional 584,566 shares during the period. 1832 Asset Management L.P. raised its stake in Cloudflare by 121.2% during the 4th quarter. 1832 Asset Management L.P. now owns 2,916,600 shares of the company's stock worth $242,836,000 after buying an additional 1,597,900 shares during the period. Norges Bank acquired a new stake in Cloudflare during the 4th quarter worth $221,858,000. Finally, Deutsche Bank AG raised its stake in shares of Cloudflare by 5.1% in the 3rd quarter. Deutsche Bank AG now owns 1,352,203 shares of the company's stock valued at $85,243,000 after purchasing an additional 65,596 shares during the period. Institutional investors and hedge funds own 82.68% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Morgan Stanley reissued an "equal weight" rating and issued a $92.00 target price on shares of Cloudflare in a report on Monday, June 17th. Susquehanna reduced their target price on Cloudflare from $115.00 to $80.00 and set a "neutral" rating on the stock in a report on Monday, May 6th. JMP Securities reissued a "market outperform" rating and issued a $120.00 target price on shares of Cloudflare in a report on Tuesday, May 14th. UBS Group raised Cloudflare from a "sell" rating to a "neutral" rating and boosted their target price for the stock from $76.00 to $82.00 in a report on Tuesday, June 25th. Finally, Robert W. Baird reduced their price objective on Cloudflare from $100.00 to $94.00 and set an "outperform" rating on the stock in a report on Friday, May 3rd. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $90.96.

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.

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