Cloudflare, Inc. (NYSE:NET) Insider Sells $1,015,470.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 9,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $112.83, for a total value of $1,015,470.00. Following the sale, the insider now directly owns 188,406 shares in the company, valued at approximately $21,257,848.98. The trade was a 4.56 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Down 10.1 %

Shares of NYSE:NET opened at $107.46 on Friday. The firm has a fifty day moving average of $136.91 and a two-hundred day moving average of $112.31. 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 $66.24 and a 12-month high of $177.37. The firm has a market capitalization of $37.08 billion, a P/E ratio of -488.46 and a beta of 1.59.

Cloudflare (NYSE:NET) last released its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (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%. On average, equities analysts expect that Cloudflare, Inc. will post -0.11 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several large investors have recently made changes to their positions in the company. MassMutual Private Wealth & Trust FSB raised its position in Cloudflare by 115.4% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 265 shares of the company’s stock valued at $30,000 after acquiring an additional 142 shares in the last quarter. Quarry LP raised its holdings in Cloudflare by 38.6% during the third quarter. Quarry LP now owns 478 shares of the company’s stock valued at $39,000 after buying an additional 133 shares in the last quarter. Gordian Capital Singapore Pte Ltd acquired a new stake in shares of Cloudflare in the fourth quarter worth about $43,000. Park Square Financial Group LLC bought a new stake in shares of Cloudflare during the 4th quarter worth about $56,000. Finally, Larson Financial Group LLC increased its holdings in shares of Cloudflare by 1,988.5% during the 4th quarter. Larson Financial Group LLC now owns 543 shares of the company’s stock valued at $58,000 after acquiring an additional 517 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analyst Weigh In

NET has been the subject of several research reports. Truist Financial raised their target price on Cloudflare from $120.00 to $140.00 and gave the company a “buy” rating in a research note on Tuesday, January 28th. JMP Securities raised their price objective on shares of Cloudflare from $135.00 to $180.00 and gave the company a “market outperform” rating in a research report on Friday, February 7th. Bank of America upgraded shares of Cloudflare from an “underperform” rating to a “buy” rating and boosted their target price for the stock from $60.00 to $160.00 in a report on Tuesday, March 25th. Piper Sandler reduced their target price on shares of Cloudflare from $153.00 to $131.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Citigroup raised Cloudflare from a “neutral” rating to a “buy” rating and upped their price target for the company from $95.00 to $145.00 in a report on Friday, January 17th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, Cloudflare presently has an average rating of “Hold” and a consensus 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.