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 Cloudflare stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $88.12, for a total value 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 legal filing with the SEC, which is accessible through this hyperlink.

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 value of $291,480.00.
• On Monday, March 4th, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $99.64, for a total value of $298,920.00.
• On Friday, February 9th, Douglas James Kramer sold 6,000 shares of Cloudflare stock. The shares were sold at an average price of $110.08, for a total value of $660,480.00.

Cloudflare Trading Down 16.2 %

NYSE:NET traded down $14.45 on Friday, reaching $74.52. The company’s stock had a trading volume of 18,643,020 shares, compared to its average volume of 3,930,820. Cloudflare, Inc. has a 1-year low of $39.90 and a 1-year high of $116.00. 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 has a market cap of $25.16 billion, a PE ratio of -135.49 and a beta of 1.15. The business’s 50-day moving average price is $94.15 and its two-hundred day moving average price is $83.39.

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

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Oppenheimer cut their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research report on Friday. JPMorgan Chase & Co. dropped their target price on Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. Mizuho dropped their target price on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research report on Friday. Robert W. Baird dropped their target price on Cloudflare from $100.00 to $94.00 and set an “outperform” rating for the company in a research report on Friday. Finally, Piper Sandler restated a “neutral” rating and set a $81.00 target price (down previously from $110.00) on shares of Cloudflare in a research report on Friday. Four investment 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’s stock. Based on data from MarketBeat.com, Cloudflare currently has an average rating of “Hold” and an average price target of $90.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG boosted its position 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 during the period. Envestnet Portfolio Solutions Inc. acquired a new position in shares of Cloudflare during the third quarter worth about $569,000. International Assets Investment Management LLC acquired a new position in shares of Cloudflare during the fourth quarter worth about $11,639,000. Blueshift Asset Management LLC boosted its position in shares of Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock worth $1,634,000 after buying an additional 12,974 shares during the period. Finally, LA Financiere DE L Echiquier boosted its position in shares of Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock worth $33,937,000 after buying an additional 17,600 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

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.