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

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 9,000 shares of Cloudflare stock in a transaction dated 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 completion of the sale, the insider now directly owns 188,406 shares of the company’s stock, valued at approximately $21,257,848.98. This trade represents a 4.56 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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 stock was sold at an average price of $131.66, for a total transaction of $326,648.46.

Cloudflare Price Performance

Shares of NYSE:NET opened at $119.85 on Thursday. The company’s fifty day moving average is $137.24 and its 200 day moving average is $112.34. 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 52 week low of $66.24 and a 52 week high of $177.37. The stock has a market cap of $41.36 billion, a PE ratio of -544.77 and a beta of 1.27.

Cloudflare (NYSE:NET) last released its earnings results on Thursday, February 6th. The company reported ($0.03) earnings per share 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%. Research analysts anticipate that Cloudflare, Inc. will post -0.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Hartline Investment Corp grew its holdings in Cloudflare by 1.5% in the 4th quarter. Hartline Investment Corp now owns 264,336 shares of the company’s stock worth $28,464,000 after acquiring an additional 3,957 shares during the last quarter. Birchcreek Wealth Management LLC purchased a new stake in shares of Cloudflare during the fourth quarter worth about $215,000. Strategic Blueprint LLC bought a new stake in shares of Cloudflare in the fourth quarter worth about $265,000. Clarendon Private LLC purchased a new position in Cloudflare during the 4th quarter valued at about $293,000. Finally, Savant Capital LLC bought a new position in Cloudflare during the 4th quarter valued at approximately $237,000. 82.68% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NET has been the topic of a number of recent research reports. Needham & Company LLC dropped their price target on shares of Cloudflare from $185.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, March 13th. Wells Fargo & Company increased their target price on Cloudflare from $135.00 to $150.00 and gave the stock an “overweight” rating in a research report on Monday, January 27th. DZ Bank cut Cloudflare from a “hold” rating to a “sell” rating and set a $145.00 price target for the company. in a research report on Tuesday, February 11th. UBS Group dropped their price objective on Cloudflare from $165.00 to $135.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. Finally, Stifel Nicolaus lifted their target price on Cloudflare from $136.00 to $175.00 and gave the company a “buy” rating in a report on Friday, February 7th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $135.64.

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.