Cloudflare, Inc. (NYSE:NET) Insider Sells $265,800.00 in Stock

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

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 Price Performance

Shares of NET opened at $87.68 on Wednesday. The company has a 50 day moving average of $84.05 and a two-hundred day moving average of $80.50. The company has a market cap of $29.96 billion, a price-to-earnings ratio of -302.34 and a beta of 1.10. The company has a quick ratio of 3.51, a current ratio of 3.51 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a twelve month low of $61.34 and a twelve month high of $116.00.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NET. BNP Paribas assumed coverage on Cloudflare in a research note on Tuesday, October 8th. They set an “underperform” rating and a $65.00 price objective on the stock. Mizuho boosted their price objective on shares of Cloudflare from $92.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, October 17th. Susquehanna raised their target price on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a report on Monday, August 5th. Cantor Fitzgerald increased their price objective on shares of Cloudflare from $80.00 to $85.00 and gave the stock a “neutral” rating in a research report on Friday, August 2nd. Finally, Guggenheim raised their price objective on shares of Cloudflare from $50.00 to $57.00 and gave the stock a “sell” rating in a research note on Friday, August 2nd. Four 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 data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average target price of $91.72.

Institutional Trading of Cloudflare

A number of institutional investors have recently made changes to their positions in NET. Baillie Gifford & Co. boosted its holdings in Cloudflare by 8.5% in the second quarter. Baillie Gifford & Co. now owns 32,722,670 shares of the company’s stock worth $2,710,419,000 after acquiring an additional 2,575,396 shares in the last quarter. Marshall Wace LLP raised its position in shares of Cloudflare by 123.4% in the 2nd quarter. Marshall Wace LLP now owns 1,548,535 shares of the company’s stock valued at $128,265,000 after purchasing an additional 855,334 shares during the last quarter. Capital World Investors boosted its stake in Cloudflare by 2.1% in the 1st quarter. Capital World Investors now owns 28,128,522 shares of the company’s stock worth $2,723,685,000 after purchasing an additional 584,566 shares in the last quarter. Vanguard Group Inc. grew its position in Cloudflare by 1.5% during the 1st quarter. Vanguard Group Inc. now owns 28,572,053 shares of the company’s stock worth $2,766,632,000 after purchasing an additional 412,864 shares during the last quarter. Finally, Natixis acquired a new position in Cloudflare during the 1st quarter valued at approximately $28,334,000. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.