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

Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 9,000 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $196.09, for a total value of $1,764,810.00. Following the completion of the transaction, the insider directly owned 160,377 shares of the company's stock, valued at $31,448,325.93. This represents a 5.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• 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 transaction of $498,000.00.
• On Thursday, May 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $124.16, for a total transaction of $372,480.00.

Cloudflare Price Performance

Shares of NYSE:NET traded up $5.62 during trading on Thursday, reaching $191.26. The company had a trading volume of 1,848,754 shares, compared to its average volume of 3,152,063. The firm's fifty day moving average is $159.94 and its 200 day moving average is $136.78. The company has a debt-to-equity ratio of 0.90, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market capitalization of $66.29 billion, a PE ratio of -831.54 and a beta of 1.85. Cloudflare, Inc. has a twelve month low of $69.26 and a twelve month high of $198.01.

Cloudflare (NYSE:NET - Get Free Report) last released its earnings results 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 6.31% and a negative net margin of 4.62%. The firm had revenue of $479.09 million during the quarter, compared to analyst estimates of $469.49 million. During the same quarter last year, the company earned $0.16 earnings per share. The business's revenue for the quarter was up 26.5% on a year-over-year basis. On average, equities analysts forecast that Cloudflare, Inc. will post -0.11 EPS for the current year.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Oppenheimer reissued an "outperform" rating and issued a $200.00 price objective (up from $165.00) on shares of Cloudflare in a report on Thursday, June 5th. Capital One Financial upgraded Cloudflare from a "hold" rating to a "strong-buy" rating in a research note on Thursday, May 8th. Guggenheim lifted their price objective on shares of Cloudflare from $68.00 to $70.00 and gave the stock a "sell" rating in a report on Friday, May 9th. Morgan Stanley increased their target price on shares of Cloudflare from $144.00 to $150.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, UBS Group lifted their price target on shares of Cloudflare from $135.00 to $145.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Cloudflare currently has a consensus rating of "Hold" and an average price target of $145.92.

Institutional Investors Weigh In On Cloudflare

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mather Group LLC. boosted its stake in shares of Cloudflare by 1,188.2% during the 1st quarter. Mather Group LLC. now owns 219 shares of the company's stock worth $25,000 after acquiring an additional 202 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Cloudflare during the first quarter valued at $27,000. GPS Wealth Strategies Group LLC boosted its position in shares of Cloudflare by 213.4% in the 1st quarter. GPS Wealth Strategies Group LLC now owns 257 shares of the company's stock valued at $29,000 after purchasing an additional 175 shares during the period. MassMutual Private Wealth & Trust FSB increased its stake in Cloudflare by 115.4% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company's stock worth $30,000 after purchasing an additional 142 shares in the last quarter. Finally, Gordian Capital Singapore Pte Ltd acquired a new stake in Cloudflare during the 4th quarter worth about $43,000. 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.