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 company’s stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $88.12, for a total transaction of $264,360.00. Following the completion of the transaction, the insider now owns 205,238 shares of the company’s stock, valued at approximately $18,085,572.56. The sale 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, April 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $97.16, for a total transaction of $291,480.00.
• On Monday, March 4th, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $99.64, for a total transaction of $298,920.00.
• On Friday, February 9th, Douglas James Kramer sold 6,000 shares of Cloudflare stock. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00.

Cloudflare Price Performance

NYSE:NET traded down $14.45 during mid-day trading on Friday, hitting $74.52. 18,643,020 shares of the company’s stock traded hands, compared to its average volume of 3,930,820. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. The firm’s 50 day simple moving average is $94.15 and its 200 day simple moving average is $83.39. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a market cap of $25.16 billion, a PE ratio of -135.49 and a beta of 1.15.

Cloudflare (NYSE:NET) last posted its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.01. The firm had revenue of $362.47 million during the quarter, compared to the consensus estimate of $352.70 million. Cloudflare had a negative net margin of 14.19% and a negative return on equity of 15.92%. Sell-side analysts expect that Cloudflare, Inc. will post -0.2 EPS for the current year.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently modified their holdings of the company. Deutsche Bank AG grew its holdings in shares of Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock worth $85,243,000 after buying an additional 65,596 shares in the last quarter. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Cloudflare in the third quarter worth approximately $569,000. International Assets Investment Management LLC acquired a new stake in shares of Cloudflare in the fourth quarter worth approximately $11,639,000. Blueshift Asset Management LLC boosted its position in shares of Cloudflare by 100.2% in the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after acquiring an additional 12,974 shares during the last quarter. Finally, LA Financiere DE L Echiquier boosted its position in shares of Cloudflare by 4.5% in the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after acquiring an additional 17,600 shares during the last quarter. 82.68% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NET has been the subject of a number of recent research reports. Capital One Financial initiated coverage on shares of Cloudflare in a research note on Wednesday, January 17th. They set an “equal weight” rating and a $83.00 price target for the company. Royal Bank of Canada increased their price target on shares of Cloudflare from $95.00 to $108.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Truist Financial increased their price target on shares of Cloudflare from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Friday, February 9th. DZ Bank cut shares of Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 target price for the company. in a research note on Tuesday, February 13th. Finally, JMP Securities raised their target price on shares of Cloudflare from $75.00 to $90.00 and gave the stock a “market outperform” rating in a research note on Wednesday, January 31st. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus price target of $90.17.

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.