Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Wednesday, May 1st. The shares were 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 can be accessed 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 shares were 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 value of $298,920.00.
- On Friday, February 9th, Douglas James Kramer sold 6,000 shares of Cloudflare stock. The shares were sold at an average price of $110.08, for a total value of $660,480.00.
Cloudflare Stock Performance
Shares of NYSE NET opened at $74.52 on Friday. The company has a 50 day simple moving average of $93.67 and a two-hundred day simple moving average of $83.47. The stock has a market cap of $25.16 billion, a price-to-earnings ratio of -140.60 and a beta of 1.15. The company has a current ratio of 3.50, a quick ratio of 3.50 and a debt-to-equity ratio of 1.68. Cloudflare, Inc. has a 12 month low of $39.90 and a 12 month high of $116.00.
Look Who Fired the World’s Richest Man
From Banyan Hill Publishing | Ad
This company is tiny… but already has contracts with 30 federal agencies and services some of the biggest companies in the U.S.
And demand for the technology is unprecedented … “unlike anything we have seen in the past,” says a spokesman.
Get the full story here.
Cloudflare (NYSE:NET - Get Free Report) last issued its earnings results on Thursday, February 8th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.01. Cloudflare had a negative net margin of 13.10% and a negative return on equity of 13.22%. The firm had revenue of $362.47 million during the quarter, compared to analysts' expectations of $352.70 million. As a group, analysts predict that Cloudflare, Inc. will post -0.2 earnings per share for the current year.
Wall Street Analysts Forecast Growth
Several research firms have commented on NET. Piper Sandler reissued a "neutral" rating and set a $81.00 price target (down from $110.00) on shares of Cloudflare in a research report on Friday. Wells Fargo & Company decreased their target price on shares of Cloudflare from $125.00 to $105.00 and set an "overweight" rating for the company in a research report on Friday. Oppenheimer cut their price target on shares of Cloudflare from $122.00 to $110.00 and set an "outperform" rating on the stock in a 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, UBS Group lowered their price objective on Cloudflare from $88.00 to $76.00 and set a "sell" rating for the company in a research report on Friday. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Cloudflare has a consensus rating of "Hold" and a consensus price target of $90.17.
Read Our Latest Report on Cloudflare
Hedge Funds Weigh In On Cloudflare
Institutional investors and hedge funds have recently modified their holdings of the stock. Commonwealth Equity Services LLC lifted its stake in shares of Cloudflare by 9.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 56,921 shares of the company's stock valued at $3,588,000 after purchasing an additional 4,685 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Cloudflare by 4.3% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 66,128 shares of the company's stock worth $4,169,000 after acquiring an additional 2,700 shares during the period. Xponance Inc. boosted its stake in shares of Cloudflare by 0.6% during the 3rd quarter. Xponance Inc. now owns 40,684 shares of the company's stock worth $2,565,000 after acquiring an additional 224 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Cloudflare by 27.0% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 15,709 shares of the company's stock valued at $990,000 after acquiring an additional 3,337 shares during the period. Finally, Stratos Wealth Partners LTD. purchased a new position in shares of Cloudflare in the 3rd quarter valued at about $372,000. Institutional investors and hedge funds own 82.68% of the company's stock.
About Cloudflare
(
Get Free Report)
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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. This story was reviewed by InsiderTrades.com's editorial team prior to publication. Please send any questions or comments about this story to [email protected].
