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 firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing 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 stock was 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 company has a market capitalization of $29.55 billion, a price-to-earnings ratio of -298.24 and a beta of 1.10. The firm has a 50-day moving average price of $83.92 and a 200 day moving average price of $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.

Hedge Funds Weigh In On Cloudflare

Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company’s stock worth $80,000 after acquiring an additional 119 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company’s stock worth $2,253,000 after purchasing an additional 136 shares during the last quarter. Quarry LP grew its position in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after purchasing an additional 146 shares during the period. Forum Financial Management LP increased its stake in Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company’s stock valued at $234,000 after purchasing an additional 162 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock worth $3,041,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Upgrades and Downgrades

NET has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They set a “sector perform” rating and a $85.00 price objective on the stock. Wolfe Research began coverage on Cloudflare in a report on Tuesday, July 16th. They issued a “peer perform” rating for the company. Cantor Fitzgerald upped their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research note on Friday, August 2nd. Finally, Guggenheim increased their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a “sell” rating in a report on Friday, August 2nd. Four equities research 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. According to MarketBeat, Cloudflare 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.