Insider Selling: Cloudflare (NYSE:NET) Insider Sells $528,570.00 in Stock

Cloudflare, Inc. (NYSE:NET) insider Douglas James Kramer sold 3,000 shares of Cloudflare stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $176.19, for a total transaction of $528,570.00. Following the completion of the transaction, the insider owned 101,101 shares in the company, valued at approximately $17,812,985.19. This trade represents a 2.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Monday, December 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $196.84, for a total value of $590,520.00.

Cloudflare Trading Down 2.3%

Shares of NYSE NET opened at $163.04 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 1.46. Cloudflare, Inc. has a 12 month low of $89.42 and a 12 month high of $260.00. The company has a market cap of $57.11 billion, a price-to-earnings ratio of -543.48, a P/E/G ratio of 144.65 and a beta of 1.97. The business has a fifty day simple moving average of $192.45 and a 200-day simple moving average of $205.24.

Institutional Investors Weigh In On Cloudflare

Large investors have recently made changes to their positions in the company. Rakuten Investment Management Inc. bought a new position in Cloudflare during the 3rd quarter valued at about $138,660,000. National Pension Service raised its stake in shares of Cloudflare by 1.0% in the third quarter. National Pension Service now owns 618,662 shares of the company’s stock valued at $132,759,000 after acquiring an additional 5,939 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Cloudflare in the 2nd quarter worth approximately $87,868,000. Swedbank AB grew its position in Cloudflare by 27.7% during the 3rd quarter. Swedbank AB now owns 43,878 shares of the company’s stock worth $9,416,000 after acquiring an additional 9,527 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH grew its position in Cloudflare by 20.1% during the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 170,186 shares of the company’s stock worth $36,520,000 after acquiring an additional 28,495 shares during the last quarter. Institutional investors own 82.68% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NET. Weiss Ratings reissued a “sell (d-)” rating on shares of Cloudflare in a research note on Wednesday, January 21st. Mizuho dropped their price target on Cloudflare from $280.00 to $255.00 and set an “outperform” rating on the stock in a research report on Wednesday, January 21st. TD Cowen restated a “buy” rating on shares of Cloudflare in a research report on Tuesday, January 27th. Piper Sandler dropped their target price on Cloudflare from $249.00 to $220.00 and set a “neutral” rating on the stock in a report on Monday, January 5th. Finally, Wolfe Research reissued a “peer perform” rating on shares of Cloudflare in a research report on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $229.86.

About Cloudflare

Cloudflare, Inc is a global web infrastructure and security company that provides a suite of services designed to improve the performance, reliability and security of internet properties. Its core offerings include a content delivery network (CDN), distributed denial-of-service (DDoS) protection, managed DNS, and a web application firewall (WAF). Cloudflare also provides tools for bot management, SSL/TLS, load balancing and rate limiting to help organizations maintain uptime and protect web applications from attack.

In addition to traditional edge and security services, Cloudflare has expanded into edge computing and developer platforms.