Cloudflare, Inc. (NYSE:NET) Insider Sells $326,648.46 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 2,481 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $131.66, for a total transaction of $326,648.46. Following the transaction, the insider now directly owns 175,688 shares of the company’s stock, valued at $23,131,082.08. This represents a 1.39 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Cloudflare Price Performance

NET opened at $166.88 on Friday. Cloudflare, Inc. has a one year low of $66.24 and a one year high of $171.38. The stock has a market capitalization of $57.27 billion, a P/E ratio of -641.83 and a beta of 1.12. The company has a debt-to-equity ratio of 1.32, a current ratio of 3.37 and a quick ratio of 3.37. The company’s 50 day simple moving average is $117.55 and its 200-day simple moving average is $96.24.

Cloudflare (NYSE:NET) last announced its quarterly earnings data on Thursday, February 6th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.21). Cloudflare had a negative net margin of 5.97% and a negative return on equity of 7.18%. Sell-side analysts anticipate that Cloudflare, Inc. will post -0.1 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Guggenheim increased their price target on shares of Cloudflare from $57.00 to $68.00 and gave the stock a “sell” rating in a research report on Friday. Mizuho increased their price target on shares of Cloudflare from $102.00 to $125.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Piper Sandler increased their price target on shares of Cloudflare from $92.00 to $153.00 and gave the stock a “neutral” rating in a research report on Friday. Royal Bank of Canada increased their price target on shares of Cloudflare from $123.00 to $170.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird reissued a “neutral” rating and issued a $140.00 price target (up previously from $125.00) on shares of Cloudflare in a research report on Monday, February 3rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $128.48.

Hedge Funds Weigh In On Cloudflare

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its stake in Cloudflare by 2.6% in the third quarter. Geode Capital Management LLC now owns 4,834,558 shares of the company’s stock valued at $390,130,000 after acquiring an additional 121,810 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Cloudflare by 1.9% in the fourth quarter. Bank of New York Mellon Corp now owns 1,286,372 shares of the company’s stock worth $138,516,000 after purchasing an additional 23,641 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in Cloudflare by 5.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,221,760 shares of the company’s stock worth $131,559,000 after purchasing an additional 63,945 shares during the period. Swiss National Bank raised its holdings in Cloudflare by 1.1% in the third quarter. Swiss National Bank now owns 893,600 shares of the company’s stock worth $72,283,000 after purchasing an additional 10,100 shares during the period. Finally, Peregrine Capital Management LLC raised its holdings in Cloudflare by 0.4% in the fourth quarter. Peregrine Capital Management LLC now owns 661,682 shares of the company’s stock worth $71,250,000 after purchasing an additional 2,483 shares during the period. 82.68% of the stock is owned by institutional investors.

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.