Cloudflare, Inc. (NYSE:NET - Get Free Report) insider Douglas James Kramer sold 3,000 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $88.60, for a total value of $265,800.00. Following the transaction, the insider now directly owns 185,386 shares in the company, valued at approximately $16,425,199.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Douglas James Kramer also recently made the following trade(s):
- On Tuesday, September 3rd, Douglas James Kramer sold 3,000 shares of Cloudflare stock. The stock was sold at an average price of $81.53, for a total transaction of $244,590.00.
Cloudflare Trading Down 1.2 %
Shares of NET stock opened at $86.49 on Tuesday. Cloudflare, Inc. has a twelve month low of $61.34 and a twelve month high of $116.00. The company has a market capitalization of $29.55 billion, a price-to-earnings ratio of -298.24 and a beta of 1.10. The firm has a 50-day moving average price of $83.92 and a 200 day moving average price of $80.48. The company has a current ratio of 3.51, a quick ratio of 3.51 and a debt-to-equity ratio of 1.46.
Hedge Funds Weigh In On Cloudflare
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Several institutional investors and hedge funds have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in Cloudflare by 13.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 987 shares of the company's stock worth $80,000 after acquiring an additional 119 shares during the period. Elo Mutual Pension Insurance Co boosted its holdings in shares of Cloudflare by 0.5% during the second quarter. Elo Mutual Pension Insurance Co now owns 27,196 shares of the company's stock worth $2,253,000 after purchasing an additional 136 shares during the last quarter. Quarry LP grew its position in shares of Cloudflare by 73.4% in the second quarter. Quarry LP now owns 345 shares of the company's stock valued at $29,000 after purchasing an additional 146 shares during the period. Forum Financial Management LP increased its stake in Cloudflare by 6.1% in the second quarter. Forum Financial Management LP now owns 2,823 shares of the company's stock valued at $234,000 after purchasing an additional 162 shares during the last quarter. Finally, Soltis Investment Advisors LLC boosted its stake in Cloudflare by 0.5% in the 1st quarter. Soltis Investment Advisors LLC now owns 31,403 shares of the company's stock worth $3,041,000 after buying an additional 168 shares during the last quarter. Hedge funds and other institutional investors own 82.68% of the company's stock.
Analyst Upgrades and Downgrades
NET has been the topic of a number of analyst reports. Needham & Company LLC reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Cloudflare in a report on Friday, August 2nd. Scotiabank started coverage on Cloudflare in a report on Monday, July 8th. They set a "sector perform" rating and a $85.00 price objective on the stock. Wolfe Research began coverage on Cloudflare in a report on Tuesday, July 16th. They issued a "peer perform" rating for the company. Cantor Fitzgerald upped their price target on shares of Cloudflare from $80.00 to $85.00 and gave the stock a "neutral" rating in a research note on Friday, August 2nd. Finally, Guggenheim increased their price target on shares of Cloudflare from $50.00 to $57.00 and gave the company a "sell" rating in a report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, Cloudflare presently has an average rating of "Hold" and a consensus price target of $91.72.
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Cloudflare Company Profile
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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.
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