Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Cloudflare Inc shares valued at $949,744 were sold by Zatlyn Michelle on May 22 ’24. At $74.08 per share, Zatlyn Michelle sold 12,820 shares. The insider’s holdings dropped to 0 shares worth approximately $0.0 following the completion of this transaction.
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Also, Ledbetter Carl sold 9,999 shares, netting a total of over 738,364 in proceeds. Following the sale of shares at $73.84 each, the insider now holds 1,148,659 shares.
Before that, Zatlyn Michelle had sold 12,820 shares from its account. In a trade valued at $954,538, the President and COO traded Cloudflare Inc shares for $74.46 each. Upon closing the transaction, the insider’s holdings decreased to 12,820 shares, worth approximately $0.0.
As published in a research note from DZ Bank on May 07, 2024, Cloudflare Inc [NET] has been rated up from a Hold to a Buy and the price target has been revised to $95. Analysts at DZ Bank downgraded the stock from ‘”a Buy”‘ to ‘”a Hold”‘ outlook in a report released in mid February. Earlier on January 18, 2024, Bernstein initiated its rating. Their recommendation was “a Mkt perform” for NET stock.
Analyzing NET Stock Performance
During the last five days, there has been a drop of approximately -2.02%. Over the course of the year, Cloudflare Inc shares have dropped approximately -11.58%. Shares of the company reached a 52-week high of $116.00 on 02/09/24 and a 52-week low of $71.77 on 05/10/24. A 50-day SMA is recorded $86.94, while a 200-day SMA reached $77.58. Nevertheless, trading volume fell to 2.3 million shares from 2.06 million shares the previous day.
Support And Resistance Levels for Cloudflare Inc (NET)
According to the 24-hour chart, there is a support level at 72.61, which, if violated, would cause prices to drop to 71.60. In the upper region, resistance lies at 75.49. The next price resistance is at 77.36. RSI (Relative Strength Index) is 34.02 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.31, which suggests the price will decrease in the coming days. Percent R is at 59.61%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
