Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells 9,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 9,000 shares of the company’s stock in a transaction 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 represents a 4.56 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

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 Performance

NET stock opened at $115.60 on Wednesday. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. Cloudflare, Inc. has a 1-year low of $66.24 and a 1-year high of $177.37. The business has a 50-day moving average price of $137.39 and a 200 day moving average price of $112.03. The company has a market capitalization of $39.89 billion, a P/E ratio of -525.47 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) 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%. As a group, equities research analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

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

Analysts Set New Price Targets

A number of research firms recently commented on NET. Needham & Company LLC lowered their price target on Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, March 13th. Truist Financial lifted their price objective on Cloudflare from $120.00 to $140.00 and gave the stock a “buy” rating in a research note on Tuesday, January 28th. The Goldman Sachs Group lowered their price objective on shares of Cloudflare from $183.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, March 14th. DZ Bank downgraded shares of Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 target price on the stock. in a report on Tuesday, February 11th. Finally, Morgan Stanley started coverage on shares of Cloudflare in a report on Tuesday, March 18th. They issued an “overweight” rating for the company. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $135.64.

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.