Cloudflare, Inc. (NYSE:NET) Insider Douglas James Kramer Sells 3,000 Shares of Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $88.12, for a total value of $264,360.00. Following the completion of the transaction, the insider now directly owns 205,238 shares of the company’s stock, valued at $18,085,572.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 value 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 Stock Down 16.2 %

Shares of NYSE:NET opened at $74.52 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 3.50 and a current ratio of 3.50. Cloudflare, Inc. has a 52-week low of $39.90 and a 52-week high of $116.00. The firm has a market capitalization of $25.16 billion, a P/E ratio of -140.60 and a beta of 1.15. The stock has a 50 day moving average price of $93.67 and a 200-day moving average price of $83.47.

Cloudflare (NYSE:NET) last announced its earnings results on Thursday, February 8th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.01. The firm had revenue of $362.47 million for the quarter, compared to analysts’ expectations of $352.70 million. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. As a group, equities research analysts anticipate that Cloudflare, Inc. will post -0.2 EPS for the current fiscal year.

Institutional Investors Weigh In On Cloudflare

Several hedge funds have recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its holdings in shares of Cloudflare by 5.1% during the third quarter. Deutsche Bank AG now owns 1,352,203 shares of the company’s stock valued at $85,243,000 after buying an additional 65,596 shares during the last quarter. Envestnet Portfolio Solutions Inc. bought a new stake in shares of Cloudflare in the 3rd quarter worth $569,000. International Assets Investment Management LLC purchased a new position in shares of Cloudflare in the fourth quarter worth $11,639,000. Blueshift Asset Management LLC lifted its holdings in shares of Cloudflare by 100.2% during the third quarter. Blueshift Asset Management LLC now owns 25,926 shares of the company’s stock valued at $1,634,000 after purchasing an additional 12,974 shares in the last quarter. Finally, LA Financiere DE L Echiquier boosted its position in shares of Cloudflare by 4.5% during the fourth quarter. LA Financiere DE L Echiquier now owns 407,600 shares of the company’s stock valued at $33,937,000 after buying an additional 17,600 shares during the last quarter. 82.68% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NET has been the topic of a number of recent analyst reports. Mizuho lowered their target price on shares of Cloudflare from $95.00 to $88.00 and set a “neutral” rating on the stock in a research note on Friday. UBS Group lowered their price objective on shares of Cloudflare from $88.00 to $76.00 and set a “sell” rating on the stock in a research report on Friday. Cantor Fitzgerald cut their target price on shares of Cloudflare from $100.00 to $80.00 and set a “neutral” rating for the company in a research report on Friday. DZ Bank downgraded Cloudflare from a “buy” rating to a “hold” rating and set a $110.00 price target on the stock. in a research report on Tuesday, February 13th. Finally, Oppenheimer cut their price objective on Cloudflare from $122.00 to $110.00 and set an “outperform” rating for the company in a report on Friday. Four equities 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 stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus 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.