Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Cloudflare Inc shares valued at $1,363,158 were sold by SEIFERT THOMAS J on Oct 18 ’24. At $90.88 per share, SEIFERT THOMAS J sold 15,000 shares. The insider’s holdings dropped to 281,403 shares worth approximately $24.68 million following the completion of this transaction.
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Also, THOMAS J SEIFERT purchased 15,000 shares, netting a total of over 1,356,000 in proceeds.
Before that, Prince Matthew had sold 52,384 shares from its account. In a trade valued at $4,921,495, the CEO & Chair of the Board traded Cloudflare Inc shares for $93.95 each. Upon closing the transaction, the insider’s holdings decreased to 52,384 shares, worth approximately $0.94 million.
As published in their initiating research note from Exane BNP Paribas on October 08, 2024, Cloudflare Inc [NET] has been an Underperform and the price target has been revised to $65. Analysts at Wolfe Research started covering the stock with ‘”a Peer perform”‘ outlook in a report released in mid July. As of July 08, 2024, Scotiabank has initiated its “Sector perform” rating for NET. Earlier on June 25, 2024, UBS upgraded its rating. Their new recommendation was “a Neutral” for NET stock which previously was a “a Sell”.
Analyzing NET Stock Performance
During the last five days, there has been a drop of approximately -2.08%. Over the course of the year, Cloudflare Inc shares have jumped approximately 5.34%. Shares of the company reached a 52-week high of $116.00 on 02/09/24 and a 52-week low of $66.24 on 06/03/24. A 50-day SMA is recorded $83.69, while a 200-day SMA reached $84.49. Nevertheless, trading volume fell to 2.1 million shares from 2.4 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 86.96, which, if violated, would cause prices to drop to 86.22. In the upper region, resistance lies at 88.59. The next price resistance is at 89.48. RSI (Relative Strength Index) is 51.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.99, which suggests the price will decrease in the coming days. Percent R is at 91.38%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
