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

Key Points

• Douglas James Kramer, an insider at Cloudflare, sold 3,000 shares at an average price of $198.22, totaling $594,660, which decreased his ownership stake by 1.87%.
• Cloudflare reported $0.21 earnings per share for the last quarter, exceeding analysts' expectations of $0.18, with revenue of $512.32 million, a 27.8% increase year-over-year.
• Equities analysts have shown confidence in Cloudflare's future, with target prices raised significantly; for instance, JMP Securities increased theirs to $225, indicating a positive outlook for the stock.

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 1st. The stock was sold at an average price of $198.22, for a total value of $594,660.00. Following the transaction, the insider owned 157,377 shares in the company, valued at approximately $31,195,268.94. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Douglas James Kramer also recently made the following trade(s):

• On Tuesday, July 1st, Douglas James Kramer sold 9,000 shares of Cloudflare stock. The stock was sold at an average price of $196.09, for a total value of $1,764,810.00.
• On Monday, June 2nd, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $166.00, for a total value of $498,000.00.

Cloudflare Price Performance

Shares of NYSE NET traded up $8.34 during mid-day trading on Monday, reaching $208.45. The company had a trading volume of 3,651,785 shares, compared to its average volume of 3,735,440. The company has a current ratio of 5.14, a quick ratio of 5.14 and a debt-to-equity ratio of 2.63. The stock has a market cap of $72.25 billion, a PE ratio of -613.09 and a beta of 1.84. The company has a 50-day moving average price of $184.49 and a two-hundred day moving average price of $149.53. Cloudflare, Inc. has a 1-year low of $69.26 and a 1-year high of $211.75.

Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.18 by $0.03. The business had revenue of $512.32 million for the quarter, compared to analysts' expectations of $501.58 million. Cloudflare had a negative return on equity of 8.42% and a negative net margin of 6.22%. The company's quarterly revenue was up 27.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.20 EPS. On average, equities analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. NWK Group Inc. purchased a new position in shares of Cloudflare during the second quarter valued at $6,201,000. Creative Financial Designs Inc. ADV increased its holdings in Cloudflare by 14.3% in the second quarter. Creative Financial Designs Inc. ADV now owns 751 shares of the company's stock worth $147,000 after buying an additional 94 shares during the last quarter. Creekmur Asset Management LLC bought a new position in Cloudflare during the second quarter valued at approximately $2,358,000. Aljian Capital Management LLC lifted its stake in Cloudflare by 21.4% in the second quarter. Aljian Capital Management LLC now owns 11,668 shares of the company's stock valued at $2,285,000 after acquiring an additional 2,060 shares during the last quarter. Finally, Strs Ohio grew its position in Cloudflare by 92.9% in the second quarter. Strs Ohio now owns 11,779 shares of the company's stock worth $2,307,000 after acquiring an additional 5,673 shares in the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on NET shares. JMP Securities lifted their target price on Cloudflare from $180.00 to $225.00 and gave the company a "market outperform" rating in a research report on Monday, July 28th. Royal Bank Of Canada increased their price objective on Cloudflare from $210.00 to $228.00 and gave the stock an "outperform" rating in a research report on Friday. Needham & Company LLC increased their price objective on Cloudflare from $200.00 to $240.00 and gave the company a "buy" rating in a research note on Friday. Guggenheim upped their price objective on Cloudflare from $70.00 to $111.00 and gave the stock a "sell" rating in a report on Friday. Finally, Scotiabank boosted their target price on Cloudflare from $135.00 to $200.00 and gave the stock a "sector perform" rating in a report on Friday. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $186.88.

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.

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