Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells $247,950.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $82.65, for a total transaction of $247,950.00. Following the completion of the transaction, the insider now owns 195,303 shares in the company, valued at $16,141,792.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Wednesday, May 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $88.12, for a total transaction of $264,360.00.

Cloudflare Stock Down 0.6 %

Shares of NET stock opened at $84.53 on Friday. The stock’s fifty day moving average price is $76.71 and its 200 day moving average price is $85.43. Cloudflare, Inc. has a 1-year low of $53.88 and a 1-year high of $116.00. The company has a debt-to-equity ratio of 1.61, a quick ratio of 3.51 and a current ratio of 3.51.

Cloudflare (NYSE:NET) last issued its quarterly earnings results on Thursday, May 2nd. The company reported ($0.03) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.02. Cloudflare had a negative return on equity of 12.78% and a negative net margin of 13.10%. The business had revenue of $378.60 million for the quarter, compared to analyst estimates of $372.93 million. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.19 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating and set a $80.00 price target on shares of Cloudflare in a research note on Friday, June 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $135.00 target price on shares of Cloudflare in a research report on Friday, May 31st. JMP Securities reiterated a “market outperform” rating and issued a $120.00 target price on shares of Cloudflare in a report on Tuesday, May 14th. Piper Sandler restated a “neutral” rating and set a $81.00 price target (down previously from $110.00) on shares of Cloudflare in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Cloudflare from $90.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday, May 3rd. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, Cloudflare has a consensus rating of “Hold” and a consensus target price of $90.96.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Cigna Investments Inc. New grew its stake in Cloudflare by 4.2% during the 1st quarter. Cigna Investments Inc. New now owns 3,178 shares of the company’s stock valued at $307,000 after purchasing an additional 129 shares during the last quarter. Yousif Capital Management LLC boosted its position in Cloudflare by 4.0% in the fourth quarter. Yousif Capital Management LLC now owns 3,399 shares of the company’s stock valued at $283,000 after buying an additional 130 shares during the last quarter. Kingswood Wealth Advisors LLC increased its holdings in Cloudflare by 0.5% in the 4th quarter. Kingswood Wealth Advisors LLC now owns 27,358 shares of the company’s stock worth $2,278,000 after buying an additional 132 shares during the period. Quent Capital LLC raised its position in Cloudflare by 8.1% during the 4th quarter. Quent Capital LLC now owns 1,877 shares of the company’s stock worth $156,000 after buying an additional 140 shares during the last quarter. Finally, Soltis Investment Advisors LLC lifted its stake in Cloudflare by 0.5% during the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company’s stock valued at $3,041,000 after acquiring an additional 168 shares during the period. Institutional investors and hedge funds own 82.68% of the company’s stock.

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.