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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 9,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 188,406 shares of the company’s stock, valued at $21,257,848.98. This trade represents a 4.56 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 shares were sold at an average price of $131.66, for a total value of $326,648.46.

Cloudflare Trading Up 2.6 %

NYSE:NET opened at $115.60 on Wednesday. The company has a 50 day simple moving average of $137.39 and a two-hundred day simple moving average of $112.03. The company has a market cap of $39.89 billion, a PE ratio of -525.47 and a beta of 1.27. The company has a current ratio of 3.37, a quick ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $177.37.

Cloudflare (NYSE:NET) last posted its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) 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%. Research analysts forecast that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Hedge Funds Weigh In On Cloudflare

Institutional investors and hedge funds have recently made changes to their positions in the business. Cerity Partners LLC boosted its stake in shares of Cloudflare by 306.4% during the 3rd quarter. Cerity Partners LLC now owns 18,416 shares of the company’s stock worth $1,490,000 after acquiring an additional 13,885 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Cloudflare by 5.4% during the third quarter. The Manufacturers Life Insurance Company now owns 14,308 shares of the company’s stock valued at $1,157,000 after purchasing an additional 734 shares in the last quarter. CreativeOne Wealth LLC grew its holdings in Cloudflare by 13.3% during the third quarter. CreativeOne Wealth LLC now owns 6,924 shares of the company’s stock valued at $560,000 after purchasing an additional 811 shares during the period. Captrust Financial Advisors increased its position in Cloudflare by 596.2% in the third quarter. Captrust Financial Advisors now owns 39,827 shares of the company’s stock worth $3,222,000 after buying an additional 34,106 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in shares of Cloudflare in the third quarter worth about $6,548,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Cantor Fitzgerald raised their price objective on Cloudflare from $111.00 to $149.00 and gave the company a “neutral” rating in a research report on Friday, February 7th. Guggenheim lifted their price target on shares of Cloudflare from $57.00 to $68.00 and gave the company a “sell” rating in a research report on Friday, February 7th. Scotiabank raised their target price on shares of Cloudflare from $87.00 to $110.00 and gave the company a “sector perform” rating in a research note on Tuesday, January 21st. Stifel Nicolaus boosted their price target on Cloudflare from $136.00 to $175.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Finally, Needham & Company LLC reduced their price objective on Cloudflare from $185.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, March 13th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target 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.