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 business’s stock in a transaction 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 of the company’s stock, valued at $16,141,792.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

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 Price Performance

Shares of NYSE:NET opened at $84.55 on Thursday. Cloudflare, Inc. has a 12 month low of $53.88 and a 12 month high of $116.00. The business has a 50-day moving average of $76.76 and a two-hundred day moving average of $85.44. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

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

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $120.00 price target on shares of Cloudflare in a report on Tuesday, May 14th. Mizuho dropped their target price on Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. KeyCorp dropped their target price on Cloudflare from $132.00 to $94.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. TD Cowen dropped their target price on Cloudflare from $117.00 to $110.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, 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 note on Friday, May 3rd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and a consensus price target of $90.96.

Institutional Investors Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of NET. LPL Financial LLC boosted its position in shares of Cloudflare by 5.3% in the third quarter. LPL Financial LLC now owns 114,510 shares of the company’s stock worth $7,219,000 after buying an additional 5,806 shares during the period. O Shaughnessy Asset Management LLC purchased a new position in Cloudflare in the third quarter valued at about $325,000. Trexquant Investment LP purchased a new position in Cloudflare in the third quarter valued at about $1,615,000. Gotham Asset Management LLC purchased a new position in Cloudflare in the third quarter valued at about $580,000. Finally, Royal London Asset Management Ltd. boosted its holdings in Cloudflare by 2.3% in the third quarter. Royal London Asset Management Ltd. now owns 107,194 shares of the company’s stock valued at $6,759,000 after purchasing an additional 2,374 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

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.