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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $88.60, for a total transaction of $265,800.00. Following the sale, the insider now directly owns 185,386 shares in the company, valued at $16,425,199.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Tuesday, September 3rd, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $81.53, for a total transaction of $244,590.00.

Cloudflare Trading Down 1.2 %

Shares of NET stock opened at $86.49 on Tuesday. Cloudflare, Inc. has a twelve month low of $61.34 and a twelve month high of $116.00. The stock has a market cap of $29.55 billion, a price-to-earnings ratio of -298.24 and a beta of 1.10. The company’s 50-day moving average price is $83.92 and its 200-day moving average price is $80.48. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Allspring Global Investments Holdings LLC lifted its holdings in shares of Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after acquiring an additional 238 shares during the last quarter. First Trust Direct Indexing L.P. acquired a new position in Cloudflare during the first quarter worth $295,000. Private Advisor Group LLC boosted its position in shares of Cloudflare by 22.0% during the first quarter. Private Advisor Group LLC now owns 18,662 shares of the company’s stock worth $1,807,000 after buying an additional 3,362 shares during the period. Sequoia Financial Advisors LLC acquired a new stake in shares of Cloudflare in the first quarter valued at $239,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Cloudflare by 13.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 45,185 shares of the company’s stock valued at $4,340,000 after buying an additional 5,392 shares during the period. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on NET. Needham & Company LLC reissued a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research note on Friday, August 2nd. Royal Bank of Canada increased their price target on Cloudflare from $90.00 to $99.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Susquehanna boosted their price objective on Cloudflare from $80.00 to $85.00 and gave the company a “neutral” rating in a research report on Monday, August 5th. Guggenheim increased their target price on Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a research report on Friday, August 2nd. Finally, Scotiabank started coverage on shares of Cloudflare in a report on Monday, July 8th. They issued a “sector perform” rating and a $85.00 price target for the company. Four analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $91.72.

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.