Douglas James Kramer Sells 3,000 Shares of Cloudflare, Inc. (NYSE:NET) Stock

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $166.00, for a total value of $498,000.00. Following the completion of the transaction, the insider now owns 169,377 shares of the company's stock, valued at approximately $28,116,582. This represents a 1.74% 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 Thursday, May 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $124.16, for a total value of $372,480.00.
• On Tuesday, April 1st, Douglas James Kramer sold 9,000 shares of Cloudflare stock. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00.

Cloudflare Trading Up 1.9%

NYSE NET traded up $3.37 on Friday, reaching $179.70. The stock had a trading volume of 2,771,374 shares, compared to its average volume of 3,132,207. The firm has a market capitalization of $62.29 billion, a price-to-earnings ratio of -816.82 and a beta of 1.78. The company has a quick ratio of 3.37, a current ratio of 3.37 and a debt-to-equity ratio of 1.32. Cloudflare, Inc. has a 12-month low of $69.26 and a 12-month high of $181.64. The stock has a fifty day moving average price of $132.42 and a two-hundred day moving average price of $127.31.

Cloudflare (NYSE:NET - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.16 earnings per share for the quarter, missing analysts' consensus estimates of $0.17 by ($0.01). Cloudflare had a negative return on equity of 5.52% and a negative net margin of 4.72%. The company had revenue of $479.09 million for the quarter, compared to analysts' expectations of $469.49 million. During the same period in the prior year, the company posted $0.16 EPS. The firm's revenue was up 26.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Analysts Set New Price Targets

NET has been the topic of several recent research reports. JMP Securities boosted their target price on Cloudflare from $135.00 to $180.00 and gave the stock a "market outperform" rating in a report on Friday, February 7th. Susquehanna lowered their target price on Cloudflare from $170.00 to $140.00 and set a "neutral" rating on the stock in a report on Monday, May 12th. JPMorgan Chase & Co. boosted their target price on Cloudflare from $110.00 to $115.00 and gave the stock a "neutral" rating in a report on Friday, February 7th. Guggenheim boosted their target price on Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Friday, May 9th. Finally, KeyCorp initiated coverage on Cloudflare in a report on Friday. They set an "overweight" rating and a $210.00 target price on the stock. Three analysts have rated the stock with a sell rating, ten have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $145.92.

Institutional Trading of Cloudflare

Large investors have recently modified their holdings of the stock. Mather Group LLC. increased its holdings in Cloudflare by 1,188.2% in the first quarter. Mather Group LLC. now owns 219 shares of the company's stock valued at $25,000 after buying an additional 202 shares during the last quarter. NBC Securities Inc. purchased a new position in Cloudflare in the first quarter valued at $27,000. GPS Wealth Strategies Group LLC increased its holdings in Cloudflare by 213.4% in the first quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after buying an additional 175 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Cloudflare by 115.4% in 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. Finally, Gordian Capital Singapore Pte Ltd purchased a new position in Cloudflare in the fourth quarter valued at $43,000. Hedge funds and other institutional investors 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.