Cloudflare, Inc. (NYSE:NET – Free Report) General Counsel Douglas James Kramer sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $65.48, for a total value of $196,440.00. Following the completion of the sale, the general counsel now owns 160,495 shares in the company, valued at approximately $10,509,212.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Douglas James Kramer also recently made the following trade(s):
- On Thursday, June 1st, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $67.47, for a total value of $202,410.00.
- On Thursday, May 11th, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The shares were sold at an average price of $50.00, for a total value of $150,000.00.
Cloudflare Stock Down 2.9 %
Shares of NYSE:NET opened at $63.18 on Friday. The company has a quick ratio of 4.40, a current ratio of 4.40 and a debt-to-equity ratio of 2.20. The business has a fifty day moving average of $59.62 and a two-hundred day moving average of $56.52. The stock has a market cap of $20.97 billion, a P/E ratio of -107.08 and a beta of 0.93. Cloudflare, Inc. has a 52-week low of $37.37 and a 52-week high of $80.99.
Hedge Funds Weigh In On Cloudflare
Hedge funds have recently modified their holdings of the business. TFC Financial Management Inc. purchased a new position in shares of Cloudflare during the 4th quarter worth $29,000. Sunbelt Securities Inc. purchased a new position in shares of Cloudflare during the 1st quarter worth $29,000. Belpointe Asset Management LLC purchased a new position in shares of Cloudflare during the 4th quarter worth $31,000. First Horizon Advisors Inc. grew its holdings in shares of Cloudflare by 45.4% during the 4th quarter. First Horizon Advisors Inc. now owns 682 shares of the company’s stock worth $31,000 after purchasing an additional 213 shares during the period. Finally, Providence Capital Advisors LLC lifted its stake in Cloudflare by 6,065.0% during the 1st quarter. Providence Capital Advisors LLC now owns 2,466 shares of the company’s stock worth $40,000 after acquiring an additional 2,426 shares in the last quarter. 74.38% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
NET has been the topic of a number of recent research reports. Needham & Company LLC reiterated a “buy” rating and issued a $77.00 target price on shares of Cloudflare in a research report on Wednesday, March 22nd. Robert W. Baird decreased their price target on Cloudflare from $67.00 to $59.00 in a report on Friday, April 28th. Royal Bank of Canada decreased their price target on Cloudflare from $70.00 to $54.00 in a report on Friday, April 28th. UBS Group assumed coverage on Cloudflare in a report on Monday, June 5th. They issued a “sell” rating and a $55.00 price target for the company. Finally, Guggenheim raised Cloudflare from a “sell” rating to a “neutral” rating in a report on Friday, May 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Cloudflare currently has a consensus rating of “Hold” and a consensus price target of $60.63.
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, secure origin connection, and rate limiting products.
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