Douglas James Kramer Sells 9,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total transaction of $1,015,470.00. Following the completion of the transaction, the insider now directly owns 188,406 shares of the company’s stock, valued at $21,257,848.98. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, February 3rd, Douglas James Kramer sold 2,481 shares of Cloudflare stock. The stock was sold at an average price of $131.66, for a total value of $326,648.46.

Cloudflare Stock Up 2.6 %

NET stock traded up $2.91 during midday trading on Tuesday, reaching $115.60. 3,439,466 shares of the company were exchanged, compared to its average volume of 3,086,697. The stock’s 50-day simple moving average is $137.39 and its 200 day simple moving average is $112.03. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The company has a debt-to-equity ratio of 1.32, a quick ratio of 3.37 and a current ratio of 3.37. The company has a market cap of $39.89 billion, a price-to-earnings ratio of -525.47 and a beta of 1.27.

Cloudflare (NYSE:NET) last announced its quarterly earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 4.72% and a negative return on equity of 5.52%. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently modified their holdings of NET. MassMutual Private Wealth & Trust FSB raised its position in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after purchasing an additional 142 shares during the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare during the fourth quarter worth about $43,000. Quarry LP boosted its stake in shares of Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock worth $39,000 after buying an additional 133 shares during the period. Park Square Financial Group LLC acquired a new stake in Cloudflare during the 4th quarter worth approximately $56,000. Finally, Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% in the fourth quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after purchasing an additional 517 shares during the period. 82.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on NET shares. Mizuho dropped their price objective on shares of Cloudflare from $160.00 to $140.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Guggenheim upped their target price on Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research note on Friday, February 7th. Citigroup raised shares of Cloudflare from a “neutral” rating to a “buy” rating and increased their price objective for the company from $95.00 to $145.00 in a report on Friday, January 17th. Robert W. Baird reaffirmed a “neutral” rating and issued a $140.00 price target (up from $125.00) on shares of Cloudflare in a research note on Monday, February 3rd. Finally, Baird R W lowered shares of Cloudflare from a “strong-buy” rating to a “hold” rating in a research note on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $135.64.

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.