Insider Selling: Cloudflare, Inc. (NYSE:NET) Insider Sells $264,360.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $88.12, for a total transaction of $264,360.00. Following the transaction, the insider now directly owns 205,238 shares in the company, valued at $18,085,572.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, April 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $97.16, for a total transaction of $291,480.00.
• On Monday, March 4th, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $99.64, for a total transaction of $298,920.00.
• On Friday, February 9th, Douglas James Kramer sold 6,000 shares of Cloudflare stock. The stock was sold at an average price of $110.08, for a total transaction of $660,480.00.

Cloudflare Trading Down 16.4 %

Shares of Cloudflare stock opened at $74.40 on Monday. The stock has a market cap of $25.12 billion, a PE ratio of -140.38 and a beta of 1.15. The firm has a fifty day moving average price of $93.67 and a 200 day moving average price of $83.75. Cloudflare, Inc. has a 1 year low of $39.90 and a 1 year high of $116.00. The company has a debt-to-equity ratio of 1.68, a current ratio of 3.50 and a quick ratio of 3.50.

Cloudflare (NYSE:NET) last issued its quarterly earnings data on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.01. The business had revenue of $362.47 million during the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative return on equity of 13.22% and a negative net margin of 13.10%. Equities research analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.

Institutional Investors Weigh In On Cloudflare

Hedge funds have recently bought and sold shares of the stock. Riverview Trust Co purchased a new stake in Cloudflare in the 1st quarter worth approximately $27,000. Allspring Global Investments Holdings LLC boosted its position in Cloudflare by 595.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 278 shares of the company’s stock worth $27,000 after purchasing an additional 238 shares in the last quarter. ICA Group Wealth Management LLC purchased a new stake in Cloudflare in the 4th quarter worth approximately $38,000. GAMMA Investing LLC purchased a new stake in Cloudflare in the 4th quarter worth approximately $39,000. Finally, Pingora Partners LLC purchased a new stake in Cloudflare in the 4th quarter worth approximately $42,000. Hedge funds and other institutional investors own 82.68% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Mizuho reduced their price objective on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating for the company in a research note on Friday. Oppenheimer reduced their price objective on shares of Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a research note on Friday. Cantor Fitzgerald reduced their price objective on shares of Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a research note on Friday. Piper Sandler reissued a “neutral” rating and issued a $81.00 price objective (down previously from $110.00) on shares of Cloudflare in a research note on Friday. Finally, UBS Group reduced their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating for the company in a research note on Friday. Four research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $90.17.

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.