Douglas James Kramer Sells 2,481 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 2,481 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares in the company, valued at approximately $23,131,082.08. This trade represents a 1.39 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Cloudflare Stock Up 2.9 %

Cloudflare stock traded up $4.00 during midday trading on Wednesday, hitting $144.14. The stock had a trading volume of 3,474,516 shares, compared to its average volume of 3,188,381. The business has a fifty day moving average price of $115.82 and a 200 day moving average price of $95.58. Cloudflare, Inc. has a 12 month low of $66.24 and a 12 month high of $144.30. The stock has a market cap of $49.47 billion, a P/E ratio of -554.38 and a beta of 1.12. 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 (NYSE:NET) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.03) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.03). Cloudflare had a negative return on equity of 7.18% and a negative net margin of 5.97%. The business had revenue of $430.08 million during the quarter, compared to the consensus estimate of $423.65 million. Research analysts predict that Cloudflare, Inc. will post -0.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Piper Sandler lifted their price objective on Cloudflare from $83.00 to $92.00 and gave the company a “neutral” rating in a report on Friday, November 8th. Robert W. Baird reaffirmed a “neutral” rating and set a $140.00 target price (up previously from $125.00) on shares of Cloudflare in a report on Monday. Stifel Nicolaus raised shares of Cloudflare from a “hold” rating to a “buy” rating and raised their price target for the stock from $95.00 to $136.00 in a research report on Tuesday, December 17th. Cantor Fitzgerald started coverage on Cloudflare in a research note on Friday, January 17th. They set a “neutral” rating and a $111.00 target price for the company. Finally, Jefferies Financial Group raised their price target on shares of Cloudflare from $100.00 to $125.00 and gave the company a “hold” rating in a research note on Thursday, December 19th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Cloudflare presently has a consensus rating of “Hold” and an average price target of $112.32.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. CVA Family Office LLC grew its position in shares of Cloudflare by 121.3% during the 3rd quarter. CVA Family Office LLC now owns 312 shares of the company’s stock valued at $25,000 after buying an additional 171 shares during the last quarter. Quarry LP boosted its stake in Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company’s stock valued at $29,000 after acquiring an additional 146 shares during the period. Capital Performance Advisors LLP bought a new position in shares of Cloudflare during the third quarter valued at approximately $38,000. Quest Partners LLC acquired a new stake in shares of Cloudflare during the 3rd quarter worth approximately $54,000. Finally, Versant Capital Management Inc boosted its position in Cloudflare by 44.9% during the 4th quarter. Versant Capital Management Inc now owns 549 shares of the company’s stock valued at $59,000 after purchasing an additional 170 shares during the period. 82.68% of the stock is currently owned by institutional investors.

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.